Page 5 - Gmr Airports

GMR Group to divest entire 40% stake in Philippines' Cebu airport

GMR Group on Friday said it will divest its entire 40 per cent stake in Cebu international airport in Philippines for an upfront payment of Rs 1,330 crore as well as earnouts to be received over a period of more than four years. The airport is being operated by GMR-Megawide Cebu Airport Corporation (GMCAC) and GMR Airports International BV (GAIBV) holds a 40 per cent stake in the venture. A definitive agreement has been signed between GMR Airports International BV (GAIBV) and Aboitiz InfraCapital Inc (AIC) for the divestment of stake in Cebu airport. AIC is the infrastructure arm of the Philippines-based Aboitiz Group. According to a regulatory filing, the stake is being divested as part of the focus on deleveraging GMR Airports Ltd and churning assets for higher returns on investment. "The transaction will be undertaken at an enterprise value of PhP 49.7 billion (INR 70.5 billion) and GAIBV will receive an upfront amount of PhP 9.4 billion (INR 13.3 billion) in lieu of the shares

GMR Infra to raise Rs 6,000 crore for cities around three airports

Group power company to raise Rs 3,000 cr separately

Philippines' Megawide, partner selling airport project stakes for $440 mn

Philippines' Megawide Construction Corp and its Indian partner are selling their shares in an airport developer and operator, in a deal worth $439.8 million, Megawide said in a disclosure

GMR airports joint venture starts operating Indonesia's Medan airport

GMR Group on Friday said its joint venture Angkasa Pura Aviasi has started operating the Kualanamu International Airport in Medan, Indonesia

GMR Airports, Airbus collaborate to study on sustainable aviation fuel

Airport operators Groupe ADP and GMR Airports together with Airbus, Axens and Safran have signed a MoU to conduct a joint study on Sustainable Aviation Fuels (SAF)

GMR wins bid for development, operations of Kualanamu airport in Indonesia

GMR Airports Limited (GAL)said it won a bid for the development and operation of Kualanamu International Airport in Medan, Indonesia

GMR Infra gets nod from stock exchanges on its proposed restructuring plan

GMR Infrastructure said it has received consent from stock exchanges, with no adverse observations, on its proposed restructuring involving demerger of its non-airport vertical business

GMR Airports to raise Rs 3,000 crore through non-convertible debentures

Half of this amount (Rs 1,500 crore) will be raised through one-year debentures and the balance through NCDs having 36-month maturity

Airports see uptick in retail sales, line up sweeteners for passengers

Bengaluru airport in process of finalisng new brands for its retail and F&B zone

The Rs 16 question: How Kerala lost Thiruvananthapuram airport to Adani

While Adani's bid was almost thrice as much as GMR's, the Kerala govt's KSIDC would still have won the airport if it had quoted Rs 16 more. Sai Manish explains how

GMR readying itself to take on Adani for leadership in India's airports biz

Fresh from a demerger and with a French partner, GMR Airports is readying itself to take on the Adani group for leadership in India's airports business

Grounded in Mumbai

Issues related to airport deal raise questions

Battle for MIAL: Foreign investors serve legal notice on GVK group

Call Mumbai airport stake sale to Adani a breach of agreement

GMR group to list airport business, raise Rs 5,000 crore via securities

This will be the first airport company to be listed on the Indian stock exchanges

Lenders jittery over Mumbai International Airport's falling financials

After CRISIL downgrades company debt, bankers ask GVK group to come out with repayment plan

Groupe ADP, GMR restructure airport deal due to coronavirus pandemic

The French airport operator will now pay Rs 9,720 crore instead of Rs 10,780 crore which it had agreed to pay earlier

GMR completes stake sale in airport biz to Groupe ADP, gets Rs 4,565 cr

In its first tranche of investment, Groupe ADP had paid Rs 5,248 crore on February 26

40-60% drop in air passenger traffic likely in FY21 amid Covid-19 crisis

Private joint venture airports (seven of them), including Mumbai, Delhi, Bengaluru, and Hyderabad accounted for over 54 per cent of the 349 million passengers in CY19.

GMR Infra receives first tranche payment of Rs 5,248 crore from Groupe ADP

On February 21, it was announced that Groupe ADP would acquire 49 per cent stake in GMR Airports for Rs 10,780 crore

CCI okays GMR's 49% stake sale in airport business to France's Groupe ADP

The regulator's clearance is through the green channel, which allows for an automatic system for speedy approval of combinations, subject to certain conditions