GMR Airports Infrastructure’s subsidiary -- GMR Airports (GAL) along with its Affiliate ( GAL and Affiliate referred as GMR Group) has entered into a Share Purchase Agreement (SPA) with Malaysia Airports Holding Berhad (MAHB) and MAHB’s wholly owned subsidiary, MAHB (Mauritius) (MAMPL) (MAHB and MAMPL collectively referred to as MAHB Group), towards acquisition by GMR Group from the MAHB Group, of their current minority 11% equity stake in GMR Hyderabad International Airport (GHIAL), a step down subsidiary of the Company. The said acquisition would be for a negotiated aggregate consideration of $100 million.
GAL currently holds 63% of the paid-up capital of GHIAL and post the proposed acquisition, its stake in GHIAL would increase to 74%. Government of Telangana (GoT) and the Airports Authority of India (AAI) hold 13% each in the equity stake of GHIAL. The transaction, subject to the customary closing conditions is expected to be concluded within a maximum of 135 days from the date of execution of the said SPA.
GMR Airports Infrastructure (formerly known as 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.
Company Name | CMP |
---|---|
Dreamfolks Services | 546.30 |
GMR Airports Infra. | 87.60 |
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