GMR expresses interest in buying partners' stake in airports

The GMR Group is willing to buy stakes held by minority partners in all the three airports it operates if there is any such offer, the group's Chief Financial Officer A Subba Rao said on June 21.
"We will certainly consider if the stakeholders come forward with an offer. If a minority partner wants to sell its stake, naturally we have the first opportunity to buy," Subba Rao told PTI.
Subba Rao referred the example of IDFC, which had 3.9 per cent stake in the New Delhi Airport and later swapped equity for GMR Infra stake.
Though none of their partners in the airports so far offered to sell their share, he said it is natural in any joint venture business.
The GMR Group operates two international airports in India (New Delhi and Hyderabad) and one in Turkey (the Sabiha Gokcen International Airport, Istanbul).
21/06/10 Press Trust of India/NDTV.com

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Categories: Airports Jun 2010