GMR Infra in talks to sell $200 mn in road assets

GMR Infrastructure is in talks to sell USD 200 million in road assets, reports CNBC-TV18, quoting Reuters.

GMR Infrastructure touched an intraday high of Rs 27.55 and an intraday low of Rs 26.15. At 14:36 hrs the share was quoting at Rs 27.45, up Rs 1.55, or 5.98%.
 
It was trading with volumes of 1,060,108 shares. In the previous trading session, the share closed down 5.30% or Rs 1.45 at Rs 25.90.
The company is in talks with a fund jointly managed by India's largest lender, State Bank of India , and Australia's Macquarie Group for an investment, sources said.
It is also in talks with UK-based private equity firm 3i Group Plc and IDFC Project Equity, a fund managed by India's Infrastructure Development Finance Co. , said the sources, who declined to be named as the negotiations were not yet public.
GMR is also looking at an eventual initial public offering of its road assets, said the sources.
GMR Infrastructure, IDFC, 3i and SBI-Macquarie all declined to comment. With inputs from Reuters