GMR Hyderabad International Airport to divest 100% in HDFRL

Hyderabad: Hyderabad Duty Free Retail Ltd (HDFRL), a GMR Group company that owns and manages duty free outlets at the International Airport here, is up for sale, according to a senior official of GMR Group.
The GMR Hyderabad International Airport Ltd (GHIAL), which manages the Airport, is mulling to divest 100 per cent equity in HDFRL and is on the lookout for a suitable buyer, the official said.
HDFRL came into being after the Nuance Group ( India) a joint venture company between Switzerland-based Nuance Group AG and Shoppers' Stop Ltd, severed 7-year contract with GMR Group to run the outlets at Hyderabad Airport, citing poor sales in 2010.
"We are looking at the 100 per cent divestment in HDFRL for the following reasons. We would like to bring in a specialist player in the Duty Free space.
20/02/12 PTI/Economic Times

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Categories: airports Feb 2012