Diversified group GMR Infrastructure on Friday said agreements have been executed for the proposed restructuring of holdings in GMR Airports Ltd. As per the pacts, GMR Infrastructure would be entitled to purchase the "equity securities" held by the private equity investors in GAL before June 5, 2017.
The agreements in this regard have been executed following the group exercising its call option rights on the convertible securities held by the private equity investors in GAL -- which manages the diversified group's airport business.
GMR Infrastructure, which has interests in airports, power and other sectors, is looking to consolidate its holdings in GAL. In April, the diversified group had exercised its call option right on the Compulsorily Convertible Preference Shares (CCPS) held by the private equity investors of GAL.
25/12/15 PTI/dna
To Read the News in full at Source, Click the Headline
The agreements in this regard have been executed following the group exercising its call option rights on the convertible securities held by the private equity investors in GAL -- which manages the diversified group's airport business.
GMR Infrastructure, which has interests in airports, power and other sectors, is looking to consolidate its holdings in GAL. In April, the diversified group had exercised its call option right on the Compulsorily Convertible Preference Shares (CCPS) held by the private equity investors of GAL.
25/12/15 PTI/dna
