GMR Infra Plans Minority Stake Sale In Airport Business
GMR Infrastructure Ltd said it will seek shareholders' approval for minority stake sale in its airport business. On February 21, it was declared that Groupe ADP would secure 49 percent stake in GMR Airports Ltd (GAL) for ₹10,780 crore. Aeroports de Paris SA (ADP) would purchase 100 percent stake in GMR Infra Services Ltd and afterward 49 percent shareholding in GAL. GMR Infra Services is a working and holding organization. Its essential business is to hold partakes in GAL. The organization will also look approval for divestment of whole value stake in GMR Kamalanga Energy Ltd held by GMR Energy Ltd, a backup of the firm. On February 17, JSW Energy had reported signing a share purchase agreement to acquire 100 per cent of GMR Kamalanga Energy Ltd, which owns and operates a 1,050 MW (3x350 MW) thermal power plant in Odisha, for ₹5,321 crore (subject to working capital and other adjustments).