GMR Infrastructure is planning to raise R1500 – 2000Cr through the sale of its road assets, money control states. The company was in talks with some buyers like SBI Macquarie, ICICI Venture and Morgan Stanley for a couple of months. But now, Malaysian sovereign fund Khazanah is likely to emerge as a frontrunner to bag this deal. Khazanah will be looking at buying this through their JV, which they have with IDFC- Uniquest Infra Ventures.
Also GMR is looking to sell a minority stake in its Turkish Airport - Istanbul Sabiha Gokçen International Airport, which it developed with its consortium partners Limak Holding, Turkey (LIMAK) and Malaysia Airports Holdings Berhad (MAHB). The company holds 40% stake, involving a capex of $550 Mn, since May 2008.
It plans to offload stake in its power, road and airport projects and re-deploy proceed from stake sale in new projects which will also help it clean its balance sheet.
07/08/13 Deal Curry
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Also GMR is looking to sell a minority stake in its Turkish Airport - Istanbul Sabiha Gokçen International Airport, which it developed with its consortium partners Limak Holding, Turkey (LIMAK) and Malaysia Airports Holdings Berhad (MAHB). The company holds 40% stake, involving a capex of $550 Mn, since May 2008.
It plans to offload stake in its power, road and airport projects and re-deploy proceed from stake sale in new projects which will also help it clean its balance sheet.
07/08/13 Deal Curry
