MUMBAI: MUMBAI: The Tata group is partnering with Singaporean state-run sovereign wealth fund GICNSE -0.75 % and Hong Kong’s SSG Capital to buy a 45% stake in GMR Infra’s airports holding company for Rs 8,000 crore, GMR said Wednesday.
The Tatas will hold a minority stake of 20% in the airport holding company while GIC and SSG will hold 15% and 10% respectively, said one of the people cited above. GMR will hold the rest. The consortium has likely valued GMR Airports Ltd at Rs 18,000 crore.
The infusion will include Rs 1,000 crore equity infusion in GMR Airports Ltd and the rest will be towards the purchase of its equity shares from GMR Infra and its subsidiaries. As part of this transaction, GMR also intends to provide exit to the existing private equity investors who hold 5.8% Equity Stake in the airports company.
