Gammon Infrastructure Projects (GIPL), a subsidiary of Gammon India, has reportedly signed share purchase pact to divest 9 of its project companies to BIF Holdings. The total cash inflows for GIPL on account of the divestment will be around Rs 563 crore subject to closing adjustments and additional cash inflows of up to Rs 100 crore can be realised by GIPL ahead crystallization of certain milestones in future.
Gammon Infrastructure Projects is an infrastructure project development company incorporated by Gammon India, to participate in the development of infrastructure projects on a public private partnership (PPP) basis.
