GMR Infra gains on Istanbul airport sale prospects

Reuters Market Eye - GMR Infrastructure Ltd gains 2.6 percent after Malaysia Airport Holding Berhard offered 225 million euros to purchase the Indian company's 40 percent stake in Turkey's Sabiha Gokcen Airport and its operating company LGM Tourism.

GMR said in an exchange statement late on Monday that its joint venture partner Malaysia Airports, already one of the stakeholders of Sabiha and LGM, had exercised its right of first refusal to bid for GMR's stake, without disclosing the amount.

Malaysia Airports Holdings, which holds a 20 percent stake in the airport, said in a separate exchange filing in Kuala Lumpur that it had offered to pay 225 million euros for GMR Infrastructure's 40 percent stake. (http://link.reuters.com/qum65v)

 

($1 = 0.7296 euros)

(Reporting by Himank Sharma)