GMR Plans InterGen Stake Sale

GMR Infrastructure is planning to sell its 50 percent share in InterGen, the U.S. power-generation company, The Wall Street Journal reports. The Indian company is exploring a limited number of buyers at the early stage of the selling process.

The value of GMR’s stake is about $1 billion and the company may not sell if bidders do not meet that range. GMR bought its stake in InterGen from an AIG unit for $1.1 billion in 2008.

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