Gammon India to sell EPC business to GP Group for Rs 250 crore

05 Apr 2016 Evaluate

Gammon India is all set to sell its civil engineering, procurement and construction (EPC) business to Thailand’s GP Group in a Rs 250 crore deal. GP will invest in tranches of Rs 26 crore and Rs 224 crore into Gammon Retail Infra, the group’s EPC arm, and reconstitute the latter’s board of directors.

The deal is expected to be completed in 12 months. In December last year, Gammon India had informed that its lenders would convert Rs 245 crore of debt to a 60.1 percent equity stake under the Strategic Debt Restructuring norms.

Gammon India provides engineering services and construction of services. It operates in plan, design and undertakes construction of roads, highways, bridges and other projects.

 

Peers
Company Name CMP
Larsen & Toubro 3630.60
Rail Vikas Nigam 433.00
NCC 287.25
KEC International 1232.00
Kalpataru Projects 1275.40
View more..
© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt. Ltd.