TRIL Urban to pick up 44 per cent in GMR Airports
The ₹8,000-crore investment by TRIL Urban Transport Private Ltd in GMR Airports Ltd (GAL) will help pare GMR Infrastructure Ltd’s (GIL) ₹12,000- crore corporate debt.
The proposed investment amount will consist of ₹1,000-crore equity infusion in GAL and ₹7,000 crore towards purchase of GAL’s equity shares from GIL and its subsidiaries.
According to officials in the know, TRIL Urban Transport Private Ltd (that is a part of the Tata Group) and an affiliate of GIC and SSG Capital Management will hold 44.4 per cent stake in GAL after the deal concludes. The company board will also be restructured in proportion to the stake with 3-4 new members on behalf of the investors being inducted into the GAL board. The business will continue to be controlled by the GMR Group.
