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GMR Infrastructure’s arm inks agreement to acquire 11% stake in GHIAL

03 Feb 2018 Evaluate

GMR Infrastructure’s subsidiary - GMR Airports (GAL) has entered into an agreement on February 2, 2018, subject to standard approvals, to acquire 4,15,80,000 shares of face value of Rs 10 each, representing 11% equity stake in GMR Hyderabad International Airport (GHIAL) collectively from Malaysian Airports Holding Berhard and its subsidiary MAHB (Mauritius) for a consideration of $76 million (approximately Rs 484 crore).

GHIAL is a special purpose vehicle formed to design, finance, build, operate and maintain Rajiv Gandhi International Airport (RGIA), Hyderabad for a concession period of 60 years starting March 2008. GAL currently holds 63% equity stake in GHIAL and post proposed acquisition the stake will increase to 74%. The remaining stake in the GHIAL is held by Airport Authority of India (13%) and Government of Telangana (13%).

GMR Infrastructure (GIL) is engaged in generation of power, mining and exploration activities, development of highways, infrastructure development, such as development and maintenance of airports and special economic zone; construction business, including engineering, procurement and construction (EPC) contracting activities and operation of airports and special economic zones.


GMR Airports Share Price

96.87 0.11 (0.11%)
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