GMR Infra close to selling 40% stake in Delhi airport to Paris Aeroport: Sources

Name: GMR Infra close to selling 40% stake in Delhi airport to Paris Aeroport: Sources
Uploaded: 2017-03-17T21:27:27+05:30
Description: GMR Infrastructure is reportedly in the final stages of signing a deal with Paris-based ADP for selling about 40 percent stake in Delhi airport to raise roughly Rs 4,000 crore.

GMR Infrastructure is reportedly in the final stages of signing a deal with Paris-based ADP for selling about 40 percent stake in Delhi airport to raise roughly Rs 4,000 crore.

March 17, 2017 / 21:28 IST

Skytrax released its list of world’s 100 best airports. Singapore Changi Airport continues to lead for the eighth consecutive year. Four Indian Airports managed to take their place in the list. Delhi’s Indira Gandhi International Airport ranked 50th, while Mumbai’s Chhatrapati Shivaji Maharaj International Airport, Bengaluru’s Kempegowda Airport and Hyderabad Rajiv Gandhi International Airport ranked 52, 68 and 72 respectively. Here are the world’s top 10 airports of 2020 on the basis of airport customers’ review. (Image: PTI)

GMR Infrastructure seems to have put its debt reduction plan on fast track with stake sale in Delhi airport said to be in the final lap, reports CNBC-TV18.

The company is reportedly in the final stages of signing a deal with France-based Paris Aeroport (Paris Airports) for selling about 40 percent stake in Delhi airport to raise roughly Rs 4,000 crore.

Paris Aéroport (Paris Airports) is the airport authority that owns and manages the fourteen civil airports and airfields in Paris.

The total valuation of Delhi airport is close to Rs 10,000 crore according to the company.

Sources told CNBC-TV18 that GMR had shelved this plan a few months ago and was toying with other ideas to pare debt. However, it has now decided to go ahead with the deal, and the due diligence is in the final stages.

The deal will provide some respite to GMR, which has been struggling with huge debt of over Rs 35,000 crore.

first published: Mar 17, 2017 09:27 pm

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