GMR Group on 6 June announced the divestment of an 8,18,000 sqft warehouse facility located at Hyderabad’s Rajiv Gandhi International Airport.
GMR Group on 6 June announced the divestment of an 8,18,000 sqft warehouse facility located at Hyderabad’s Rajiv Gandhi International Airport.
GMR Airports Infrastructure Limited’s step-down subsidiary GMR Hyderabad International Airport Limited (GHIAL) signed the definitive agreements and closed the transaction with ILP Core Ventures I PTE Limited at an enterprise value of ₹188.1 crore.
GMR Airports Infrastructure Limited’s step-down subsidiary GMR Hyderabad International Airport Limited (GHIAL) signed the definitive agreements and closed the transaction with ILP Core Ventures I PTE Limited at an enterprise value of ₹188.1 crore.
“This transaction is a testament to GMR Group’s capabilities in developing world-class institutional-grade real estate project assets and generating value through a successful exit. The resulting cash-flows will help in deploying capital in expansion facilities and other growth opportunities at the Hyderabad Airport Land Development portfolio,” the official release said.
“This transaction is a testament to GMR Group’s capabilities in developing world-class institutional-grade real estate project assets and generating value through a successful exit. The resulting cash-flows will help in deploying capital in expansion facilities and other growth opportunities at the Hyderabad Airport Land Development portfolio,” the official release said.
According to details, the divestment of the warehouse facility was concluded using the divestment of a 100% equity stake of GMR Hyderabad Airport Assets Limited (GHAAL), which is a subsidiary of GHIAL and a special purpose vehicle that owned this warehouse facility. Post conclusion of the transactions, GHAAL will cease to be a subsidiary of GIL, Kit said.
According to details, the divestment of the warehouse facility was concluded using the divestment of a 100% equity stake of GMR Hyderabad Airport Assets Limited (GHAAL), which is a subsidiary of GHIAL and a special purpose vehicle that owned this warehouse facility. Post conclusion of the transactions, GHAAL will cease to be a subsidiary of GIL, Kit said.
Incorporated on 26 January 2017 in Singapore, ILP Core Ventures I Pte Ltd is a wholly owned subsidiary of IndoSpace Logistics Parks Core Pte. Ltd. It owns a 00% shareholding of 11 Indian SPVs, which hold fully developed and leased industrial and warehousing asset portfolio of 8.1 mn sft in India.
Incorporated on 26 January 2017 in Singapore, ILP Core Ventures I Pte Ltd is a wholly owned subsidiary of IndoSpace Logistics Parks Core Pte. Ltd. It owns a 00% shareholding of 11 Indian SPVs, which hold fully developed and leased industrial and warehousing asset portfolio of 8.1 mn sft in India.
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