AMP Capital is in advanced talks with the GVK Group to pick up a strategic stake in Mumbai airport’s holding company at a valuation of about Rs 3,000-3,500 crore, according to a report by The Economic Times.
Mumbai International Airport Pvt (MIAL), which operates the airport in India’s financial hub, is owned by GVK Group’s GVK Power & Infrastructure through GVK Airports Holdings Pvt.
Similarly, Lone Star, a Texas-based company, is negotiating to invest in GMR Group’s Delhi airport holding entity at a valuation of about Rs 4,500 crore, the report said.
Both GVK Group and GMR are debt heavy. GVK Power's total debt stood at Rs 12,855 crore in FY18 while GMR has a debt of around Rs 4,600 crore. Citigroup and Morgan Stanley are managing the stake sale for GVK and GMR, respectively, the report stated.
17/09/18 Moneycontrol.com
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Mumbai International Airport Pvt (MIAL), which operates the airport in India’s financial hub, is owned by GVK Group’s GVK Power & Infrastructure through GVK Airports Holdings Pvt.
Similarly, Lone Star, a Texas-based company, is negotiating to invest in GMR Group’s Delhi airport holding entity at a valuation of about Rs 4,500 crore, the report said.
Both GVK Group and GMR are debt heavy. GVK Power's total debt stood at Rs 12,855 crore in FY18 while GMR has a debt of around Rs 4,600 crore. Citigroup and Morgan Stanley are managing the stake sale for GVK and GMR, respectively, the report stated.
17/09/18 Moneycontrol.com
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