GVK GROUP (G V KRISHNA REDDY)
The GVK group has the debt of Rs. 34,000 crore and it has offered Rs. 10,000 crore to the banks by selling the following assets, said the sources. According to the sources, the group is planning to sell its 49 per cent stake in the airport subsidiary that has an enterprise value of Rs. 10,000 crores. Last month, it agreed to divest its 33 per cent stake in BIAL to Fairfax India Holdings Corp for an aggregate investment of Rs 2,149 crore. The company is also exploring the possibility of bringing in equity investors into Hancock Infrastructure Pvt Ltd, its holding company for its rail and port projects in Australia. A GVK spokesperson in reply to an e-mail query by The Hindu said, “As part of our corporate policy, we do not comment on any speculation in the media. While it’s public knowledge that we are considering various options for reducing our debt, we regret we cannot respond to any of your queries.” — NEXT PAGE —-