Deutsche Bank cuts stake in Gammon Infrastructure

Deutsche Bank today said it has cut its stake in Gammon Infrastructure Projects Ltd by 2 percentage points to 4.07 per cent.
The bank had 6.10 per cent stake in the infrastructure firm, equivalent to 57,227,129 shares.
It has now shed 2.03 per cent (18,909,432 shares) stake in the company, following which its holding in Gammon Infra has come down to 4.07 per cent.
The equity was pared through market sale of shares, Deutsche Bank AG said in a regulatory filing.
The acquirer, DB International (Asia) Ltd, off-load the stake in Gammon Infra between September 9, 2014 to June 20, 2016.

A debt ridden firm, Gammon Infrastructure, earlier this year informed about completing the first tranche of stake sale in nine projects after getting NHAI and lenders approval.
The company had announced to sell stakes in nine projects valued at Rs 6,750 crore to Brookfield and Core Infra India Fund, a deal that was expected to fetch Rs 563 crore on completion as well as reduce its debt considerably.
Gammon Infra stock closed 9.19 per cent higher at Rs 5.94 on BSE.