Mumbai: Salt-to-software conglomerate the Tata Group has made an entry into the airport business by investing in GMR Airports, a subsidiary of GMR Infrastructure.
A consortium of Tata Group, an affiliate of Singapore’s sovereign wealth fund GIC and Hong Kong-based SSG Capital Management will invest Rs 8,000 in GMR Airports.
Announcing the deal GMR Airports’ parent company GMR Infrastructure said, “GMR Infrastrcuture has signed a binding term sheet with the investors pursuant to which the investors have agreed to invest Rs 8,000 crore in GMR Airports. The investment amount of Rs 8,000 crore will consist of Rs 1,000 crore equity infusion in GMR Airports and Rs 7,000 crore towards purchase of GMR Airports’ equity shares from GMR Infrastructure and its subsidiaries.”
