GVKPIL in talks to sell De­oli-Kota road as­set

The Financial Express - - COMPANIES -

GVK Power and In­fra­struc­ture (GVKPIL) is in talks with a “large in­fra­struc­ture com­pany” to sell its one of its road as­set which is De­oliKota project in Ra­jasthan. The com­pany has al­ready ini­ti­ated talks with in­vest­ment bankers and con­sul­tants to over­see the sell­off process, GVK Reddy, chair­man, told share­hold­ers dur­ing its AGM held on Fri­day. Reddy said the man­age­ment’s fo­cus is to bring down the debt of the com­pany, par­tic­u­larly at the hold­ing com­pany level. Ear­lier this year, GVK had sold 33% stake in Ban­ga­lore In­ter­na­tional Air­port Limited (BIAL) to its ex­ist­ing part­ner Prem Wat­sa­headed Fairfax Hold­ing for R2,169 crore.

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