Tata Power eyes InterGen stake for upto $1.2 bln-source

MUMBAI, Aug 26 (BestGrowthStock) – Indian utility Tata Power Ltd
(TTPW.BO: ) is in talks to buy a 50 percent stake in U.S.-based
power utility InterGen NV for $1 billion to $1.2 billion, a
source with direct knowledge of the situation said on
Thursday.
Tata Power plans to buy the stake from GMR Infrastructure
(GMRI.BO: ), an Indian builder of roads and airports.

A spokeswoman for Tata Power could not immediately be
reached for comment, and a GMR spokesman declined to comment.

GMR Infrastructure, based in Bangalore, bought 50 percent
of InterGen in 2008 for $1.1 billion from a fund owned by
American International Group Inc (AIG.N: ). The rest of InterGen
is owned by Ontario Teachers’ Pension Plan.
(Reporting by Surojit Gupta; Editing by Jui Chakravorty)

Tata Power eyes InterGen stake for upto $1.2 bln-source