Gammon India is said to be in talks with the Italy-based power firm, Sofinter, for acquiring majority stake in the latter, reports Economic Times.
This will be the third acquisition by Gammon in the Italian market, if the deal is clinched.
The company is looking for more than 50% equity stake and it is learnt that the deal may go well over USD 70 million.
Last month, Gammon acquired a majority stake in Italian turbine maker Franco Tosi Meccanica for Euro 40 million and a 50% equity stake in power sector services firm Sadelmi for Euro 7.5 million. (My Iris)