ANTO T JOSEPH

TIMES NEWS NETWORK[ WEDNESDAY, APRIL 18, 2007 02:10:43 AM]

MUMBAI: Goldman Sachs, Deutsche Bank and Merrill Lynch have picked up around 10-12% in IRB Infrastructure Developers for around Rs 260 crore ($60 million). Sources said the Mumbai-based holding company, having 10 subsidiaries, is valued at around Rs 2,500 crore by the discounted cashflow (DCF) method.

When contacted by ET, Virendra Mhaiskar, chairman and managing director of IRB Infrastructure Developers, confirmed the deal and said the investment has already received the mandatory approval from the Foreign Investment Promotion Board (FIPB).

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Posted by pichu at April 18, 2007 9:14 AM