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GMR group eyes London listing: Report

11 Aug 09 02:15 PM
ET
MUMBAI: GMR group is considering listing its global holding firm on the London Stock Exchange as a step towards building a global assets
portfolio worth $10 billion, a business daily reported citing company sources.

The group, which runs GMR Infrastructure, is bringing its overseas assets such as large stakes in Netherland's-based InterGen, Istanbul airport, coal mines in South Africa and Indonesia and power plant in Singapore into GMR Infrastructure International, the paper said.

The overseas listing move, which is along similar lines of India-focussed metals group Vedanta, is based on a target to hold overseas assets worth about $8 billion by 2014, the paper said. Vedanta listed about six years ago in London.

GMR officials could not be immediately reached for comment.