GMR Energy acquires 33 percent stake in Canadian company

Wednesday, 25 February 2009, 03:19 Hrs
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New Delhi: GMR Energy has acquired 33.5 percent stake in Canada-based Homeland Energy Group (HEG), it was announced Tuesday.

HEG has strategic interests in coal projects in South Africa and other parts of the world.

The shares were acquired by GMR in exchange for 10 percent voting and equity interest held by them in Homeland Mining and Energy South Africa, a subsidiary of Homeland Energy Corp, Mauritius, said a statement by GMR Infrastructure, the parent company of GMR Energy.
Source: IANS
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