[ad_1]
Shares of GMR Airports Infrastructure Ltd ended at Rs 41.50, down by Rs 0.90, or 2.12 p.c on the BSE. GMR had a 40 p.c stake in Cebu worldwide airport within the Philippines.
GMR Airports Infrastructure Ltd on Friday stated the corporate obtained Rs 1,389.90 crore by divesting its fairness in GMR Megawide Cebu Airport Company (GMCAC), which was a three way partnership between GMR Airports Worldwide BV (GAIBV) and Megawide Building Company (MCC). “The corporate will proceed to function because the Technical Companies Supplier to GMCAC till December 2026 and would even be entitled to extra deferred consideration primarily based on the next efficiency of GMCAC for a similar interval,” it stated in an change submitting on December 16.
Again in September this 12 months, GMR Group stated it’s divesting its complete 40 p.c stake in Cebu worldwide airport within the Philippines for an upfront fee of Rs 1,330 crore.
The airport is being operated by GMR-Megawide Cebu Airport Company (GMCAC) and GMR Airports Worldwide BV (GAIBV) holds a 40 p.c stake within the enterprise.
GMR Group received the Cebu airport venture in 2014. GMR Group is working the airports at Delhi, Hyderabad and Bidar (Karnataka), other than Cebu airport. Amongst others, additionally it is creating airports in Greece and Indonesia. GMR Airports Worldwide BV (GAIBV) is a step-down subsidiary of GMR Infrastructure Ltd and a direct subsidiary of GMR Airports Ltd.
Shares of GMR Airports Infrastructure Ltd ended at Rs 41.50, down by Rs 0.90, or 2.12 p.c on the BSE.
(Edited by : Shoma Bhattacharjee)
[ad_2]
Source link
