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GMR Energy acquires 33.5% in Canadian firm

This article was posted on Feb 24, 2009 and is filed under Stock News

GMR Energy Ltd (GEL), the 100 per cent subsidiary of GMR Infrastructure Ltd has acquired 33.5 per cent (75 million common shares) of Canada-based Homeland Energy Group Ltd (HEG), listed on Toronto Stock Exchange.

These shares were acquired by GEL in exchange for 10 per cent voting and equity interest held by GEL in Homeland Mining and Energy SA (Pty) Ltd, South Africa, a subsidiary of Homeland EnergyHEG, Canada, is the ultimate parent company of Homeland Group, having interest in development of coal projects in South Africa and several other global strategic investments, the company informed BSE today.

source: economictimes

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