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New Delhi Feb. 5 Lanco Infratech Ltd is open to acquiring its joint venture partner Globeleq Singapore Pte's 51 per cent equity stake in the 4,000 MW Sasan Ultra Mega Power Project.

Globeleq, the investment arm of UK Government-owned development agency DFID, is said to be planning to sell off its generation assets as part of a global restructuring strategy.

"If Globeleq decides to pull out from the JV (Sasan), we are open to buying their equity in the project," Lanco's Executive Director, Mr M.N. Ravi Shankar, said at the sidelines of a World Bank infrastructure seminar.

Global strategy

Globeleq's pullout is a part of a global strategy, devised by Lehman Brothers, to sell its assets worldwide.

Globeleq and Lanco Infratech were awarded the first pithead-based Ultra Mega power project at Sasan in Madhya Pradesh last December, with Globeleq as the lead developer.

The combine quoted a price bid of Rs 1.196 per unit to bag the Rs 20,000 crore project.

More Stories on : Mergers & Acquisitions | Power

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