Bangalore: GMR Infrastructure, the Bangalore-based listed developer, is set to sell its entire 40 per cent stake in Istanbul’s Sabiha Gökçen International Airport for Euro 225 million (Rs 1,900 crore) to Malaysia Airport Holdings Berhad (MAHB).
MAHB holds 20 per cent stake in the Turkey project, while Turkey-based Limak Construction holds another 40 per cent. MAHB, in a regulatory filing, said it exercised its right of first refusal (ROFR) to acquire the stake in the company.
GMR said they had received a notice from MAHB, seeking to exercise its ROFR. GMR had initiated a discussion with TAV Airports Holdings, which runs another airport in Turkey. “As part of the discussions, Malaysia Airport Holdings exercised its rights,” a senior GMR official told Business Standard. MAHB is also a stakeholder in two other airports at New Delhi and Hyderabad, which GMR manages.
23/12/13 Business Standard
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MAHB holds 20 per cent stake in the Turkey project, while Turkey-based Limak Construction holds another 40 per cent. MAHB, in a regulatory filing, said it exercised its right of first refusal (ROFR) to acquire the stake in the company.
GMR said they had received a notice from MAHB, seeking to exercise its ROFR. GMR had initiated a discussion with TAV Airports Holdings, which runs another airport in Turkey. “As part of the discussions, Malaysia Airport Holdings exercised its rights,” a senior GMR official told Business Standard. MAHB is also a stakeholder in two other airports at New Delhi and Hyderabad, which GMR manages.
23/12/13 Business Standard
