GMR signs agreements for Rs 8000 cr investment by Tata & others in airports biz

GMR Infrastructure has announced it has executed definitive agreements for the proposed investment of Rs 8,000 crore by Tata Group, an affiliate of GIC and SSG Capital Management in its Airports Business. The proposed investment of Rs 8,000 crore will consist of Rs. 1,000 crore equity infusion in GAL, and Rs. 7,000 crore towards purchase of GAL’s equity shares from GIL and its Subsidiaries. GMR will now focus on potential restructuring of the business by way of a demerger of its Energy, Highways, Urban Infrastructure and Transportation businesses, leading to separation of its Airport Business, subject to customary consents including corporate & regulatory approvals.