CONTENT PREVIEW
Airports

GMR waits for the cash to roll in

29 March 2019

Shares of GMR Infrastructure Ltd (GIL) rose substantially following a proposed USD1.2 billion funding injection into the airports business from Tata Group, Singapore sovereign wealth fund GIC and SSG Capital Management.

The deal – which is subject to regulatory approval – would leave GIL and its subsidiaries with a 54% stake. Tata would hold 20%, GIC 15%, SSG 10%, and Employee Welfare Trust will hold 2%.

GIL managing director and CEO Grandhi Kiran Kumar said in a statement that the investment would strengthen its balance sheet.

Following the investment, GMR plans to decouple its airports, energy, highways, urban infrastructure, and transportation businesses.

Want to read more? For analysis on this article and access to all our insight content, please enquire about our subscription options at ihs.com/contact



(126 of 247 words)
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT