Hyderabad airport: MAHB cancels stake sale pact with GMR
Posted on 4th January 2019 |
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Malaysia Airports Holding Bernhard (MAHB) said that it has terminated the share purchasing agreement (SPA) with the GMR Group for selling its 11% stake to the latter in Hyderabad airport as the company did not fulfil the obligations as per the agreement before December 31. GMR Infrastructure in February, 2018 said its subsidiary GMR Airports entered into an agreement with Malaysia Airports Holding Berhad and its subsidiary to acquire 11% of the stake that the Malaysian company is holding in GMR Hyderabad International Airport, for $76 million. |
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Malaysia Airports Holding cancels Hyd airport stake sale pact with GMR
Posted on 3rd January 2019 |
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Malaysia Airports Holding Berhad has said it terminated the Share Purchasing Agreement (SPA) with the GMR Group for selling its 11 per cent stake to the latter as the Indian infra major did not fulfil the obligations as per the agreement before December 31. |
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GMR subsidiary signs agreement to develop commercial port in Andhra Pradesh
Posted on 22nd November 2018 |
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Kakinada Gateway Port Limited, a subsidiary of GMR-owned Kakinada SEZ Limited (KSEZ), has signed a concession agreement with Andhra Pradesh government for development of a green-field commercial port on design, built, finance, operate and transfer basis in Kona village of East Godavari District. |
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GMR Infra arm signs pact with APGDC for piped natural gas supply
Posted on 12th October 2018 |
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GMR Infrastructure on Thursday said its arm Kakinada SEZ had inked a pact with Andhra Pradesh Gas Development Corporation (APGDC) for supply of piped natural gas. “Kakinada SEZ, a subsidiary of GMR Infra, signed an MoU with APGDC to get access to piped domestic natural gas for its upcoming 10,500-acre zone,” the company said in a filing to BSE. |
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GMR Infra seals deal with three PE investors, gives 5.8% in airport firm
Posted on 9th October 2018 |
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GMR Infrastructure will give Rs 35.6 billion by way of cash and 5.86 per cent stake in its airport holding company to three private equity (PE) investors, ending two years of litigation. The immediate cash payout works out to around Rs 15 billion, as the three investors are to give new loans of Rs 20.05 billion as part of the transaction. In 2010-11 and 2011-12, GMR Group had raised Rs 14.78 billion via compulsorily convertible preference shares from SBI Macquarie, Standard Chartered Private Equity, JM Financial Old Lane and others. |
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GMR Infra agrees to settlement with PE investors, arbitration withdrawn
Posted on 8th October 2018 |
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Infrastructure major GMR Infra on Monday announced it had received the consent award from the arbitral tribunal based on the settlement agreement signed by it with private equity investors. This was with respect to certain arbitration proceedings administered by the Singapore International Arbitration Centre. |
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GMR Infra emerges highest bidder for Nagpur Airport privatisation
Posted on 1st October 2018 |
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GMR Airports, a subsidiary of G M Rao-led GMR Infrastructure has emerged as the highest bidder for the development, operations and management of Nagpur’s Babasaheb Ambedkar International Airport on a public-private partnership (PPP) basis. MIHAN India, a joint venture between Maharashtra Airport Development Company (a Government of Maharashtra undertaking) and Airport Authority of India, had in March 2018 sought requests for proposal to privatise the Nagpur airport. |
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GMR Infra loss widens 72% to Rs 235 cr in Q1
Posted on 17th August 2018 |
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GMR Infrastructure’s net loss on a consolidated basis widened by 72% year-on-year (y-o-y) to Rs 235.14 crore in the quarter ended June 30 on dwindling profits from its airports business and rising losses on the power segment. Revenue in the quarter fell about 33% to Rs 1,876.2 crore from the same period last year. Profits from the company’s flagship airport segment fell 60% y-o-y to Rs 277 crore, notwithstanding the 14% traffic growth in the same period. |
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GMR Infra loss widens 72% to Rs 235 cr in Q1
Posted on 16th August 2018 |
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GMR Infrastructure’s net loss on a consolidated basis widened by 72% year-on-year (y-o-y) to Rs 235.14 crore in the quarter ended June 30 on dwindling profits from its airports business and rising losses on the power segment. Revenue in the quarter fell about 33% to Rs 1,876.2 crore from the same period last year. Profits from the company’s flagship airport segment fell 60% y-o-y to Rs 277 crore, notwithstanding the 14% traffic growth in the same period. |
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Vedanta offers Rs 2,500 cr for GMR’s Chhattisgarh thermal power plant
Posted on 14th July 2018 |
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Vedanta quoted the highest offer of Rs 2,500 crore for GMR’s 1,370-MW thermal power plant in Raikheda, Chhattisgarh, sources told FE. The offered price estimates the cost of the plant at Rs 1.8 crore/MW, significantly lower than the Rs 6 crore/MW needed to set up a coal-based power generation asset. Adani Power is said to have quoted the second highest price, but it could not be immediately ascertained. |
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