GMR To Acquire Menzies Aviation Cargo
GMR Hyderabad International Airport Limited (GHIAL), a direct subsidiary of GMR Airports Limited and an indirect subsidiary of GMR Infrastructure Limited, has entered into a definitive Share Purchase Agreement for acquiring the entire equity and preference shares held by Menzies Aviation Cargo (Hyderabad) Limited, Mauritius in Hyderabad Menzies Air Cargo Private Limited (HMACPL *) at a total consideration of INR 59.75 Crore. Post-acquisition of the aforesaid shares, HMACPL will be a wholly owned subsidiary of GHIAL.
HMACPL is currently the only entity engaged in operation and maintenance of cargo handling at the Rajiv Gandhi International Airport (RGIA), Hyderabad. During FY18, HMACPL handled 125,061 Metric Tonne of Cargo at RGIA.