{"id":375476,"date":"2020-09-26T12:11:19","date_gmt":"2020-09-26T06:41:19","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=375476"},"modified":"2020-09-26T12:11:19","modified_gmt":"2020-09-26T06:41:19","slug":"gmr-infra-to-divest-51-per-cent-stake-in-kakinada-sez","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/gmr-infra-to-divest-51-per-cent-stake-in-kakinada-sez\/","title":{"rendered":"GMR Infra to divest 51 per cent stake in Kakinada SEZ"},"content":{"rendered":"<p>NEW DELHI: Debt-laden GMR Infrastructure on Friday said it has signed an agreement to sell its stake in Kakinada SEZ Limited (KSEZ) to Aurobindo Realty. Total consideration for the sale of equity stake as well as the sub-debt in KSEZ is Rs  2,610 crore. Out of this, Rs 1,600 crore would be received on the closing date and the balance of  Rs 1,010 crore will be received in 2-3 years, which is contingent upon certain agreed milestones, GMR said.<\/p>\n<p>Its wholly-owned subsidiary GMR SEZ and Port Holding Ltd (GSPHL) will sell its entire 51 per cent stake in Kakinada SEZ Ltd. \u201cAs part of the proposed transfer of stake of KSEZ, the 100 per cent equity stake of Kakinada Gateway Port Ltd (KGPL) held by KSEZ would also be transferred to Aurobindo Realty,\u201d the company said in a stock exchange filing. The sale transaction will be subject to receipt of regulatory and other statutory approvals.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: Debt-laden GMR Infrastructure on Friday said it has signed an agreement to sell its stake in Kakinada SEZ Limited (KSEZ) to Aurobindo Realty. Total consideration for the sale of equity stake as well as the sub-debt in KSEZ is Rs 2,610 crore. Out of this, Rs 1,600 crore would be received on the closing date and the balance of Rs 1,010 crore will be received in 2-3 years, which is contingent upon certain agreed milestones, GMR said. Its wholly-owned subsidiary GMR SEZ and Port Holding Ltd (GSPHL) will sell its entire 51 per cent stake in Kakinada SEZ [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[208,130,143],"tags":[],"class_list":["post-375476","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-the-new-indian-express","category-newspapers","category-the-new-indian-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/375476","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=375476"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/375476\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=375476"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=375476"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=375476"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}