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Stake Sale
AMP Capital Finance to invest 200 Cr rupees in Gayatri Projects arm
Posted On : 2008-08-04 06:33:08( TIMEZONE : IST )
Gayatri Projects Ltd has announced that Gayatri Infra Ventures Ltd (GIVL), incorporated as a wholly owned subsidiary of Gayatri Projects Ltd (GPL) to operate as an investing and constructing Company in transportation infrastructure sector, has entered into a definitive agreement with AMP Capital Finance Mauritius Ltd.
Under the Agreement, AMP Capital Finance Mauritius Ltd (a part of the AMP Group), a Company incorporated under the laws of Mauritius and having its office at IFS Court, TwentyEight, Cybercity, Ebene, Mauritius, has agreed to invest Rs 100 crore in the first tranche in equity shares of GIVL. These funds would be utilised to meet ongoing needs of existing projects as well as future bids and concessions undertaken by GIVL.
GIVL, incorporated to construct Transportation Assets in India and to operate as an Investing Company in Transportation Infrastructure sector and make downstream investments in Companies undertaking infrastructure road projects in India, will be investing in infrastructure sector involved in construction, operation and maintenance of roads, highways, vehicular bridges, toil roads, vehicular tunnels, bridges and make downstream investments in other Indian companies undertaking such projects in India. GIVL, is now well positioned to exploit emerging opportunities in transportation infra structure . It plans to team up with other reputed companies in the sector and bid for new concessions. Its shareholders Gayatri Projects Ltd and AMP Capital Investors will provide it with strong support in this regard.
AMP Capital will also consider a further equity injection of Rs 100 cr. as and when the need materializes. AMP Capital investors has been investing in Asian infrastructure since 1994 and is one of the longest standing participants in infrastructure investment in Australia. It now manages funds in excess of A$ 104 Billon including A$ 3.5 Billion infrastructure investments in Australia, New Zealand, Asia and Europe as of March 31, 2008.
