Malaysian co Tenaga may pick 30% stake in GMR's energy biz

Debt-laden GMR Infrastructure on Monday is likely to announce deal with Malaysian power company Tenaga to sell close to 30 percent stake in its energy business for approximately Rs 2,000 crore, reports CNBC-TV18 quoting sources.

CNBC-TV18 first broke the news of this deal on April 29. http://www.moneycontrol.com/news/business/gmr-infra-likely-to-sell-stakeenergy-subsidiary_6458081.html

However, there is likely to be one important development in this deal now.

Tenaga is believed to have expressed concern over investing in the problem assets of the energy business, following which the latter is likely to divide its business into two verticals; one comprising healthy assets, in which Tenaga can invest while leaving out the problem assets, possibly Chhattisgarh Hydroproject and Indonesian mines.Watch video for more...