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GMR Infrastructure to sell Kakinada SEZ, port biz to Aurobindo Realty

According to the deal, the 100 per cent equity stake of Kakinada Gateway Port held by KSEZ would also be transferred to Aurobindo Realty

GMR, Infrastructure
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Vehicles cross through an underpass constructed by GMR Infrastructure that connects to the airport in New Delhi

Jyoti Mukul New Delhi
GMR Infrastructure (GIL) on Friday announced signing of definitive agreements for the sale of 51 per cent equity owned by its wholly-owned subsidiary GMR SEZ and Port Holding in Kakinada SEZ (KSEZ) to Aurobindo Realty and Infrastructure.

According to the deal, the 100 per cent equity stake of Kakinada Gateway Port held by KSEZ would also be transferred to Aurobindo Realty. This is also the latest in its larger plan to sell off some of its non-aviation businesses while not completely exiting non-aviation infrastructure segments.

As part of restructuring through demerger and deleveraging, it wants to place non-aviation business under GMR Power

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First Published: Sep 26 2020 | 1:20 AM IST

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