MUMBAI: Leading infrastructure player GMR Infrastructure on Wednesday acquired a 50% equity stake in the US-based power utility InterGen for $1.1 billion. The deal makes the Bangalore-based company the country's largest independent power producer and qualifies it to bid for building ultra mega power projects (UMPP).

The buy will also help GMR bid for privatisation of airports in India and abroad, especially as the co-owner of InterGen, Ontario Teachers' Pension Plan, has a strong presence in airport operations worldwide. It is also a part owner of Birmingham Airport. At present, GMR manages the Delhi and Hyderabad airports.

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Posted by boyang at June 26, 2008 1:03 PM