Tata Group checks into airport business with Rs 8,000-cr deal
A consortium of Tata Group, a unit of Singapore’s sovereign wealth fund GICNSE 5.89 % and SSG Capital Management will invest Rs 8,000 crore ($1.2 billion) to buy a stake in GMR Airports Ltd, which runs India’s biggest airport.
The deal will pump Rs 1,000 crore into GMR Airports, a unit of GMR InfrastructureNSE 1.29 % Ltd. and purchase Rs 7,000 crore of the airport unit’s equity shares from the parent, according to a statement. GMR operates Delhi International Airport Ltd., Asia’s sixth biggest.
