GMR Airports Attempts to Raise $100m for Buy-Out

11 August 2010 (Last Updated August 11th, 2010 18:30)

GMR Airports Holding plans to raise around INR4bn ($100m) to buy out the holdings of its parent company GMR Infrastructure. The company has already raised INR9bn ($200m) from Macquarie SBI Investment to increase its holding in the airport business, according to Business Standard.

GMR Airports Holding plans to raise around INR4bn ($100m) to buy out the holdings of its parent company GMR Infrastructure.

The company has already raised INR9bn ($200m) from Macquarie SBI Investment to increase its holding in the airport business, according to Business Standard.

GMR Group CFO A Subba Rao said the company will take it into consideration if the stakeholders come forward with an offer.

"If a minority partner wants to sell its stake, naturally we have the first opportunity to buy," Rao said.

GMR's airport business includes Hyderabad International Airport and Indira Gandhi International Airport in India, Sabiha Gökçen International Airport in Turkey and Male International Airport in Maldives.