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New Delhi Feb. 26 NTPC Ltd on Monday said it is submitting a bid to buy a 685.2-MW power project owned by British power investment firm Globeleq in Egypt. NTPC said it is submitting a non-binding bid to buy the Sidi Krir power project in Egypt through 100 per cent acquisition of Globeleq Maghreb, the company said in a statement to the Bombay Stock Exchange.

Globeleq's exit from the project is part of a global strategy to sell its assets worldwide. The UK unit of Lehman Brothers Holdings Inc is the adviser for the sale, NTPC said in the statement.

Besides NTPC, Tata Power Company Ltd and Reliance Energy Ltd are among the players that have expressed interest in buying some assets of Globeleq.

Earlier, infrastructure firm, Lanco Infratech Ltd, and Jindal Steel & Power Ltd, jointly said they were buying Globeleq's stake in the 4,000 MW Sasan power project to be set up in Madhya Pradesh.

More Stories on : Mergers & Acquisitions | Power | Overseas Investments

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