India’s GVK to sell minority stake in Australian business
GVK Power & Infrastructure plans to sell a minority stake in its Australian unit in order to retire debts and fund operations. Private equity investors and strategic partners, working independently or in tandem, are seen as likely buyers.
Sources told Reuters that Citigroup and Macquarie have been hired to help GVK raise $300-500 million through the sale. Shares in the Indian company, which are down 74.1% year-to-date, closed up 4.76% in...
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