GMR Infrastructure’s arms divest entire stake in four Indonesian entities

04 Sep 2018

GMR Infrastructure’s step down subsidiaries -- GMR Infrastructure (Overseas) and GMR Energy (Netherlands) B.V. have completed divestment of their entire stake in the four Indonesian entities, namely PT Barasentosa Lestari, PT Duta Sarana Internusa, PT Dwikarya Sejati Utama and PT UNSOCO (together, PTBSL Group Entities), to PT Golden Energy Mines Tbk.(PTGEMS). Upon completion of all the conditions precedent for the transaction, the said PTBSL Group Entities have ceased to be subsidiaries of the company.

Earlier, GMR Infrastructure (Overseas) and GMR Energy (Netherlands) B.V. had signed Conditional Share and Mandatorily Convertible Bonds Purchase Agreement, for divestment of their entire stake in the four Indonesian entities.

GMR Infrastructure 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.

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