 "GMR’s airport arm in final talks to sell 25-30% stake, may fetch about 8,000 cr")
GMR Airports, a subsidiary of GMR Infrastructure through which it has stakes in Delhi, Hyderabad and Cebu (the Philippines) airports, among others, is in the final stage of discussion to sell 25 to 30 per cent of its holdings to Singapore’s GIC and Mitsubishi Corporation of Japan. The deal is expected to be announced very soon, according to merchant bankers.
The GMR group’s airport assets are valued at around Rs 25,000 crore. The proposed equity sale, they said, could generate Rs 7,000-8,000 crore, which would help the group reduce overall debt from Rs 19,850 crore to around Rs 12,500 crore.
