Lanco Infratech, which owns Australia-based Griffin Coal, will "seriously" look for equity dilution in the subsidiary after some factors such as appreciating Australian dollar and falling coal prices are settled, sources close to the development
Gurgaon-based infrastructure major Lanco Infratech Ltd said its Australian subsidiary, Griffin Coal, have settled a $3.5-billion lawsuit filed by Perdaman Chemicals & Fertilisers over coal supply issues.
Lanco Infratech relied heavily on debt for an aggressive growth path. The move seems to be backfiring. The 70-fold jump in turnover in last six years was a heady growth, but it was fuelled by a 223-fold jump in the debt during same period.
Lanco Infratech, an integrated infrastructure conglomerate with a global footprint, on Monday said the supreme court of Western Australia had given its judgement in favour of Lanco, and had allowed Griffin Coal Mining Company Pty (GCMC), its subsidiary,
Lanco Infratech Limited (LITL), an integrated infrastructure conglomerate with global footprints, today said that the Supreme Court of Western Australia has given its judgement in favour of Lanco and has allowed the Griffin Coal Mining Company Pty Ltd
Lanco Infratech has rallied 7% to Rs 13.40 after the company said that Supreme Court of Western Australia has allowed the Griffin Coal Mining Company Pty Limited (GCMC), a subsidiary of company to enter into revised Coal Supply Agreement (CSA) with
Determining the terms agreeable to both the parties is going to be an issue as the supply agreements of natural gas from the K-G Basin is only up to April, 2014. Besides, there is a huge cut in natural gas supply to power projects owing to a decline in
Diversified group Lanco Infratech today reported a consolidated net loss of Rs 135.93 crore for the three months ended September, as the entity continued to grapple with fuel shortages for its power projects.
Lanco Infratech is engaged in talks with private equity firms Bain Capital and Kohlberg Kravis Roberts (KKR) to sell stake in its power business. Lanco has been trying to find a buyer for its power business since the beginning of the year.