GVK taps PE for airport,energy arms

India’s GVK Power and Infrastructure is in talks to bring as much as 600 million in private equity funding into two of its businesses,according to sources with direct knowledge of the matter.

Private equity firms including an investment arm of Standard Chartered,Morgan Stanley’s infrastructure fund,and TPG Capital are in talks to invest between 250 million and 300 million for a roughly 30 percent stake in GVK’s airport business,several sources said.

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Separately,GVK has secured in-principle agreement to raise roughly 280 million by selling stakes in its energy business to British private equity firms 3i Group and Actis,sources said.

A GVK spokesman declined to comment.

Officials at 31,Actis,Morgan Stanley and Standard Chartered all declined to comment. TPG Capital did not respond to an e-mail seeking comment.