New Delhi–based GMR Infrastructure has announced its intent to increase the transaction size of its airports company, GMR Airports Ltd. that it is selling to TRIL Urban Transport Private (part of TATA Group), an affiliate of GIC and SSG Capital Management.
GMR Infrastructure is now looking to sell a 49 percent stake instead of the previously agreed on 44 percent stake. A sale price was not disclosed.
GMR Airports is India’s largest private airport company, according to the company’s website. GMR Airports presently owns and operates Delhi International Airport and Hyderabad International Airports and recently won the concession to develop and operate Goa’s Greenfield airport at Mopa.
GMR Group is also the only Indian airport developer to have developed and operated airports outside of India. The company is currently operating and developing the second-largest airport in the Philippines, in partnership with Megawide Construction Corp. of Philippines, accor