GMR Infra is overhauling its business its energy vertical, GMR Energy, which recently partnered with Malaysia’s Tenaga Nasional Berhad. “First, we are going to look at consolidation and then developing multiple revenue streams. Thereafter, we’ll grow in businesses such as transmission & distribution and look at buying stressed power assets,” said G B S Raju, chairman, GMR Energy. GMR would look at these verticals with Tenaga as a partner. “The next 6-12 months will go into consolidating the existing assets,” Raju added. Last Friday, GMR completed the transaction of allotting 30% stake in GMR Energy to Tenaga for a cash consideration of $300 million, implying an equity value of $1 billion or around Rs 6,665 crore.

http://business-standard.com/article/companies/gmr-energy-tenaga-to-look-at-t-d-business-stressed-asset-buyouts-116110700007_1.html

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