GMR Infra gains on Istanbul airport sale prospects

GMR Infrastructure Ltd gains 2.6 per cent after Malaysia Airport Holding Berhard offered 225 million euros to purchase the Indian company's 40 percent stake in Turkey's Sabiha Gokcen Airport and its operating company LGM Tourism.

GMR said in an exchange statement late on Monday that its joint venture partner Malaysia Airports, already one of the stakeholders of Sabiha and LGM, had exercised its right of first refusal to bid for GMR's stake, without disclosing the amount.

Malaysia Airports Holdings, which holds a 20 per cent stake in the airport, said in a separate exchange filing in Kuala Lumpur that it had offered to pay 225 million euros for GMR Infrastructure's 40 percent stake.

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