Mumbai, Jan 16 | GMR Infrastructure Ltd on Thursday said it has now decided to divest 49 per cent stake in GMR Airports Ltd, against 44.44 per cent agreed previously.
According to a regulatory filing, Tata Group’s TRIL Urban Transport Private Ltd will acquire stake in GMR Airports.
“Company has decided to increase the transaction size by agreeing to divest 49 per cent in GMR Airports Limited (vs previously agreed 44.44 per cent) to TRIL Urban Transport Private Limited (part of TATA Group), an affiliate of GIC and SSG Capital Management in one or more tranches..” GMR Infrastructure Ltd said in a regulatory filing.
The Competition Commission of India (CCI) last year approved the proposed transaction plan under which Tata group was to hold 20 per cent in GMR Airports, while GIC will have 15 per cent and SSG 10 per cent in it.
A consortium, including GMR Airports, completed the Rajiv Gandhi Airport in Hyderabad, which started commercial operations in March 2008. The company also has interests in companies that operate the Indira Gandhi International Airport in New Delhi and Sabiha Gokcen International Airport in Istanbul.