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GMR Infrastructure settles with private equity investors at Airport business

08 Oct 2018

GMR Infrastructure (GIL) has received the consent award from the arbitral tribunal based on the settlement agreement signed by it with private equity investor’s namely SBI Macquarie, Standard Chartered Private Equity, JM Financial Old Lane and others (Investors), which had invested an amount of Rs 14.78 billion in the form of Compulsorily Convertible Preference Shares (CCPS) in GMR Airports (GAL) in FY2011 & FY2012.

Pursuant to the settlement agreement, all parties decided to withdraw the ongoing arbitration and pursuant to binding agreements giving effect to the terms of the settlement the Investors (along with certain of their affiliates) would acquire 5.86% equity of GAL at a 100% valuation of Rs 210 billion and receive a payment of Rs 35.60 billion in lieu of their entire CCPS.

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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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323