Singapore GIC in talks to buy stake in GVK arm: paper

20-Apr-2012 Intellasia | Reuters | 7:05 AM Print This Post

Sovereign wealth fund government of Singapore Investment Corp (GIC) has begun talks with Indias GVK Group to buy a stake in one of its units that owns Australias Hancock Coal, the Financial Express newspaper reported on Wednesday, citing two people familiar with the development.

GVK is looking to sell down its stakes in the Alpha coal project and related port and rail assets in Australia to help fund the A$10 billion cost of the projects, its Australian chief told Reuters last month.


Category: Singapore

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