Corporate News     25-Oct-23
GMR Group to hike stake in GMR Hyderabad International Airport
GMR Airports (GAL) along with its Affiliate ( GAL and Affiliate referred as GMR Group), subsidiaries of GMR Airports Infrastructure (the Company) have entered into a Share Purchase Agreement (“SPA”) with Malaysia Airports Holding Berhad (MAHB) and MAHB's wholly owned subsidiary, MAHB (Mauritius) (MAMPL) (MAHB and MAMPL collectively referred to as MAHB Group), towards acquisition by GMR Group from the MAHB Group, of their current minority 11% equity stake in GMR Hyderabad International Airport (GHIAL), a step down subsidiary of the Company. The said acquisition would be for a negotiated aggregate consideration of USD 100 million.

GAL currently holds 63% of the paid-up capital of GHIAL and post the proposed acquisition, its stake in GHIAL would increase to 74%. Government of Telangana (GoT) and the Airports Authority of India (AAI) hold 13% each in the equity stake of GHIAL.

The transaction, subject to the customary closing conditions is expected to be concluded within a maximum of 135 days from the date of execution of the said SPA.

Previous News
  GMR Airports Infra rallies on strong passenger traffic in May
 ( Hot Pursuit - 18-Jun-24   15:24 )
  GMR Airports Infrastructure reports consolidated net loss of Rs 120.97 crore in the March 2024 quarter
 ( Results - Announcements 30-May-24   07:41 )
  GMR Airports Infrastructure to declare Quarterly Result
 ( Corporate News - 28-May-24   14:35 )
  GMR Airports Infrastructure to acquire minor stake in WAISL
 ( Corporate News - 30-Apr-24   09:17 )
  NCC Ltd Surges 1.56%
 ( Hot Pursuit - 26-Apr-24   09:30 )
  GMR Airports Infrastructure reports consolidated net loss of Rs 317.46 crore in the December 2023 quarter
 ( Results - Announcements 01-Feb-24   07:29 )
  GMR Airports reports standalone net loss of Rs 103.70 crore in the December 2023 quarter
 ( Results - Announcements 27-Jan-24   07:36 )
  GMR Airports Infrastructure to table results
 ( Corporate News - 25-Jan-24   15:34 )
  Volumes jump at GMR Airports Infrastructure Ltd counter
 ( Hot Pursuit - 08-Jan-24   11:00 )
  NIIF to invest up to Rs 675 cr in GMR Visakhapatnam International Airport
 ( Corporate News - 22-Dec-23   09:50 )
  GMR Airports Infra gains after securing Rs 6.75 billion investment from NIIF for Bhogapuram airport
 ( Hot Pursuit - 22-Dec-23   09:27 )
Other Stories
  Tridhya Tech to convene board meeting
  03-Jul-24   20:06
  Sonu Infratech schedules EGM
  03-Jul-24   19:59
  Sakuma Exports to convene AGM
  03-Jul-24   19:59
  Time Technoplast repays commercial paper
  03-Jul-24   18:31
  Board of Aditya Vision approves stock split and listing of share on NSE
  03-Jul-24   18:24
  Pricol director resigns
  03-Jul-24   18:21
  Board of VMS Industries recommends first interim dividend
  03-Jul-24   17:49
  Lakshmi Machine Works to declare Quarterly Result
  03-Jul-24   17:44
  Modison to convene AGM
  03-Jul-24   17:43
  Sybly Industries to discuss results
  03-Jul-24   17:43
Back Top