GMR, the infrastructure major with business presence in energy, airports, highways and urban infrastructure, has completed the acquisition of 50 per cent stake in InterGen NV, a global power generation company.
InterGen has ownership interest in 12 power plants (including one power plant under construction in the Netherlands) located in the UK, the Netherlands, Mexico, Australia and the Philippines, with total net capacity (net of auxiliary) of 12,766 Mw (8,086 Mw of operational capacity and 4,680 Mw of assets under development).
After signing of the definitive agreements on June 20, various anti-trust approvals in the United States, Europe, Mexico, Australia and Philippines were obtained over a period of three months and subsequently, the transaction was completed on October 9.
GMR has closed the transaction at a purchase price of $954 million, the company informed the Bombay Stock Exchange, today. N M Rothschild & Sons worked as the sole exclusive financial advisor whereas White & Case LLP worked as Legal advisor to the GMR Group on this transaction.
