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Tata, GIC, SSG to pick up Rs 8,000 crore stakes in GMR's airport unit

The deal will pump Rs 1,000 crore into GMR Airports, a unit of GMR Infrastructure Ltd. and purchase Rs 70 billion of the airport unit's equity shares from the parent

Anurag Kotoky | Bloomberg 


A consortium including India’s Group, a unit of Singapore’s sovereign wealth fund and SSG Capital Management will invest Rs 8,000 crore ($1.2 billion) to buy a stake in Airports Ltd.

The deal will pump Rs 1,000 crore into Airports, a unit of Infrastructure Ltd. and purchase Rs 7,000 crore of the airport unit’s equity shares from the parent, according to a statement. GMR operates Delhi International Airport Ltd., the country’s biggest airport.

The deal values at Rs 18,000 crore, the company said in a filing. After the purchase, will hold 20 per cent in the airport unit, while will get 15 per cent and SSG will own 10 per cent.

GMR Also operates airports in Hyderabad and Cebu, while it is developing greenfield airports in Goa and Crete, Greece.

First Published: Wed, March 27 2019. 09:31 IST