GMR Infrastructure Ltd. will sell 49 percent stake in GMR Airports Ltd. to Tata Group firm TRIL Urban Transport as against 44.44 percent planned earlier.
The company will offload the stake “in one or more tranches" to a consortium of TRIL Urban Transport, an affiliate of Singapore sovereign fund GIC Pte Ltd. and SSG Capital Management. An amended and restated shares subscription and purchase agreement, and shareholders agreement has been executed for the revised deal, the filing said.
“This is another step in our endeavour to deleverage,” the company said.
The deal would be subject to regulatory approvals.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
