GMR Infrastructure executes definitive agreements for proposed investment of Rs 8000 cr in its Airports business

GMR Infrastructure announced the execution of Share Subscription and Purchase Agreement, Shareholders Agreement and other related Transaction documents (collectively known as 'definitive agreements') with TRIL Urban Transport (part of Tata Group), an affiliate of GIC and SSG Capital Management ("Investors") for a proposed investment of Rs. 8,000 crore in GMR Airports ("GAL"), a Subsidiary of the Company ("Transaction").

The proposed investment amount of Rs. 8,000 crore will consist of:
- Rs. 1,000 crore equity infusion in GAL; and
- Rs 7,000 crore towards purchase of GAL's equity shares from GIL and its Subsidiaries.

The Company along with its affiliates (GMR) and the Investors had signed a Binding Term Sheet in respect of the Transaction on 26 March, 2019, and execution of definitive documents is in continuation of the same.

The Parties had already initiated the process of obtaining the necessary regulatory approvals after signing the Binding Term Sheet and are in the process of satisfying the necessary conditions precedent in order to achieve an expeditious closure of the Transaction.

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