GMR Infra to sell 49 pc stake in airport business to Tata Group entity

New Delhi: GMR Infrastructure on Thursday said it will sell 49 per cent stake in airport business to Tata Group entity TRIL Urban Transport, a higher quantum than announced earlier. The diversified group had earlier announced offloading 44.44 per cent shareholding in the airport business.

In a regulatory filing, GMR Infrastructure said it has decided to “increase the transaction size by agreeing to divest 49 per cent in GMR Airports Limited (vs previously agreed 44.44 per cent) to TRIL Urban Transport Private Limited (part of TATA Group), an affiliate of GIC and SSG Capital Management… in one or more tranches”.