GVK Power To Sell Stake In Alpha Coal Project To Raise Funds
by Irfan Khan
GVK Power & Infrastructure is planning to sell stake in Alpha coal project and related port and rail assets in Australia to raise funds for $10Bn cost of the projects.
According to Paul Mulder, chief executive of Hancock Coal, the Australian arm of GVK, the process is under way, with Macquarie advising on the sale of the infrastructure stake while Citi is advising on the sale of the mine stake.
Hyderabad-based CVR Group unit Navayuga Power may sell stake in its power assets to Toshiba, Sumitomo, Mitsubishi & GDF Suez. The deal Value expected to be in between INR 13,800 to 14,400 Mn for equity stake 49 to 51%.
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