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.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • 49 per cent FDI in defence should pave the way for modernisation

    There is one industrial sector in India that has been kept out of the purview of the normal cycle of investment and production — defence.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Welfare must be humanitarian not political

We are a very political people. We politicise and corrupt ...

Purnendu Ghosh

How to distinguish a need from a want?

The day when the annual budget is announced is one ...

Shona Adhikari

Decades apart, yet a common ground in fine art

Today’s column is about two artists born many decades apart, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture