Hyderabad: Bangalore-based infrastructure and airport developer GMR Group today said it would remain invested in the Sabiha Gokcen International Airport in Istanbul, Turkey.
Group chairman GM Rao said it had not made any plans to exit Istanbul airport. “We’re working on portfolio management strategy but not selling any stake here,” he said.
The GMR Group holds a 40 per cent stake in the airport while Malaysian Airports Holding has 20 per cent and the remaining 40 per cent is with Limak Holdings of Turkey.
Recently, there were reports suggesting the group was looking at offloading some of its assets, and the Istanbul Airport was a part of the process for cutting down its around Rs 40,000-crore debt.
Speaking at The Indus Entrepreneurs Summit here today, he said the final award of $ 325 million Philippines airport modernisation project would be out in the next 2-3 days.
19/12/13 Business Standard
To Read the News in full at Source, Click the Headline
Group chairman GM Rao said it had not made any plans to exit Istanbul airport. “We’re working on portfolio management strategy but not selling any stake here,” he said.
The GMR Group holds a 40 per cent stake in the airport while Malaysian Airports Holding has 20 per cent and the remaining 40 per cent is with Limak Holdings of Turkey.
Recently, there were reports suggesting the group was looking at offloading some of its assets, and the Istanbul Airport was a part of the process for cutting down its around Rs 40,000-crore debt.
Speaking at The Indus Entrepreneurs Summit here today, he said the final award of $ 325 million Philippines airport modernisation project would be out in the next 2-3 days.
19/12/13 Business Standard
