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Last Updated : Jan 16, 2020 10:22 AM IST | Source: Moneycontrol.com

GMR Infra share price gains 3% on divestment of more stake in airports subsidiary

The company has decided to increase the transaction size by agreeing to divest 49 percent in GMR Airports.

 
 
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GMR Infrastructure share price touched a 52-week high of Rs 25, adding 4 percent intraday on January 16 after the company decided to divest further stake in its airports subsidiary.

The company has decided to increase the transaction size by agreeing to divest 49 percent in GMR Airports (previously agreed 44.44 percent) to TRIL Urban Transport Private Limited (part of TATA Group), an affiliate of GIC and SSG Capital Management in one or more tranches, such closings being subject to regulatory approvals, company said in BSE release.

An amended and restated shares subscription and purchase agreement and shareholders agreement has been executed to give effect to the above, company said.

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At 10:10 hrs, GMR Infrastructure was quoting at Rs 24.70, up Rs 0.75, or 3.13 percent on the BSE.

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First Published on Jan 16, 2020 10:22 am
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