Lanco Considers Selling Power Business Stake as Debt Mounts
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Lanco Infratech Ltd., an Indian electricity producer, is considering selling part of its generation business to cut debt amid four straight years of losses.
The company expects to raise 40 billion rupees ($630 million) in two to three years by either taking the unit public or roping in a strategic partner, said T. Adi Babu, chief operating officer, finance. Lanco will also sell its Australian coal mine and its toll-road business in India when it gets an acceptable price, he said.