GMR Infrastructure to Sell InterGen

According to media reports, GMR Infra is in advanced talks to sell a 50 per cent stake in the US-based InterGen NV to China’s Huaneng Group, for about USD 1.2 billion.

The state-owned Chinese company may pay GMR Infrastructure as much as USD 1.4 billion, including payments for taking over some non-operating assets, the report added.

GMR Infrastructure had bought 50 per cent of the Massachusetts-based power utility InterGen in 2008 for USD 1.1 billion from a fund owned by American International Group Inc.

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