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Singapore GIC in talks to buy stake in GVK arm: report

Singapore GIC in talks to buy stake in GVK arm: report
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First Published: Wed, Apr 18 2012. 10 26 AM IST

G.V. Krishna Reddy, chairman and managing director of GVK Power & Infrastructure Ltd. Bloomberg
G.V. Krishna Reddy, chairman and managing director of GVK Power & Infrastructure Ltd. Bloomberg
Updated: Wed, Apr 18 2012. 10 26 AM IST
G.V. Krishna Reddy, chairman and managing director of GVK Power & Infrastructure Ltd. Bloomberg
Sovereign wealth fund Government of Singapore Investment Corp (GIC) has begun talks with India’s GVK Group to buy a stake in one of its units that owns Australia’s Hancock Coal, the Financial Express newspaper reported on Wednesday, citing two people familiar with the development.
GVK is looking to sell down its stakes in the Alpha coal project and related port and rail assets in Australia to help fund the A$10 billion cost of the projects, its Australian chief told Reuters last month.
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First Published: Wed, Apr 18 2012. 10 26 AM IST
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