CCI approves acquisition of 55.2 pc shareholding in GMR Airports

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The Competition Commission of India (CCI) has approved the acquisition of a shareholding in GMR Airports by TRIL Urban Transport, Valkyrie Investment and Solis Capital (Singapore), according to an official statement released on Tuesday.

The proposed combination relates to the acquisition of up to 55.2 per cent equity stake in GMR Airports collectively by TRIL, Valkyrie and Solis.

The CCI approved the proposed combination subject to carryout of certain modifications proposed by TRIL under Regulation 19(2) of the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations 2011.

TRIL is a wholly-owned subsidiary of Tata Realty and Infrastructure, which in turn is a wholly-owned subsidiary of Tata Sons. TRIL is engaged in the development of urban transport and infrastructure facilities such as ropeways and metro rail transit system.

Valkyrie is a special purpose vehicle organised as a private limited company in Singapore and an affiliate of GIC Private Limited. Solis is an investment vehicle of the SSG Group.