GVK Power wants $600M of private equity investment

GVK Power and Infrastructure, an Indian energy company, is seeking up to $600 million in private equity investment into two of its business, according to Reuters. TPG Capital and an investment arm of Standard Chartered are currently in talks to invest between $250 million and $300 million for a 30 percent stake in GVK’s airport business. 3i and Actis have struck ‘in-principle’ agreements to buy stakes in GVK’s energy business for around $280 million.

(Reuters) – India’s GVK Power and Infrastructure is in talks to bring as much as $600 million in private equity funding into two of its businesses, according to sources with direct knowledge of the matter.

Private equity firms including an investment arm of Standard Chartered , Morgan Stanley’s infrastructure fund, and TPG Capital [TPG.UL] are in talks to invest between $250 million and $300 million for a roughly 30 percent stake in GVK’s airport business, several sources said.

Separately, GVK has secured “in-principle” agreement to raise roughly $280 million by selling stakes in its energy business to British private equity firms 3i Group and Actis, sources said.

A GVK spokesman declined to comment.

Officials at 31, Actis, Morgan Stanley and Standard Chartered all declined to comment. TPG Capital did not respond to an e-mail seeking comment.