GMR Infrastructure’s subsidiary - GMR Airports (GAL), has entered into an agreement to acquire 24,50,00,000 shares of face value of Rs 10 each, representing 10% equity stake in Delhi International Airport (DIAL) from Malaysia Airports (Mauritius) (Malaysia Airports) for a consideration of $79 million.
DIAL is a special purpose vehicle formed to carry out development, operation and management of Indira Gandhi International Airport, Delhi (Delhi Airport). GAL currently holds 54% equity stake in DIAL and post proposed acquisition of the entire stake of Malaysia Airports, the stake will increase to 64%.
The acquisition is subject to approval from Airport Authority of India, the grantor of concession for Delhi Airport and completion of other customary conditions precedent.
GMR Infrastructure is a Bangalore headquartered global infrastructure major with interests in Airports, Energy, Highways and Urban Infrastructure sectors. It has successfully employed the public-private partnership model to build a portfolio of high quality assets.
Company Name | CMP |
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Dreamfolks Services | 515.80 |
GMR Airports Infra. | 80.07 |
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