Abu Dhabi Investment Authority May Pick Up To 49% In GMR’s Hyderabad Airport


GMR Infrastructure is in advanced talks with sovereign wealth fund Abu Dhabi Investment Authority ( ADIA) to sell a stake of up to 49% stake in Hyderabad International Airport, multiple sources told ET. The Bengaluru-based infrastructure developer is looking to sell non-core assets to lighten its debt burden. If the transaction goes ahead, the airport entity will be valued at Rs 5,000 crore.

Paris Aeroport, formerly Aeroports de Paris , is also in talks with GMR, sources said, although talks with ADIA are said to be much further along. Paris Aeroport owns and manages 14 civilian airports and airfields in the Paris area, including Charles de Gaulle, France’s largest such facility. “The negotiations (with ADIA) are at very advanced stages. We believe the deal could get materialised within a few weeks,” said one of the persons mentioned above.

GMR has been undertaking parallel processes aimed at selling a significant minority stake in the airport holding entity GMR Airports or selling equity in individual airports. The bidding process has seen interest from large private equity funds including KKR, Apollo Global Management and Canadian pension giant PSP Investments.

ADIA and GMR declined to comment. “We do not comment on speculative information,” a GMR spokesperson said in an emailed response.

You may also read!

Air India Sets Up 5 Project Teams For Disinvesment

Air India has set the ball rolling for its eventual strategic disinvestment by setting up five internal project teams

Read More...

Air India Privatisation: SBI Caps Hired, 5 Teams Set Up For Divestment Process

Preparing for privatisation, Air India Ltd has roped in SBI Caps to advise on the future course of disinvestment

Read More...

When History Came Full Circle: How Modi Raj Outmanoeuvred British Raj At The ICJ

History has come full circle with India, once a British colony, beating its former colonial master at an important

Read More...

Leave a reply:

Your email address will not be published.

Mobile Sliding Menu