GMR Airports Expands with Strategic Acquisition
GMR Hyderabad International Airport Ltd, a subsidiary of GMR Airports Ltd, has acquired a 70% stake in ESR GMR Logistics Park Pvt Ltd, taking full control. This strategic acquisition aims to expand and strengthen its airport-based industrial and warehousing portfolio, with the acquisition valued just over Rs 41 crore.
- Country:
- India
GMR Airports Ltd has expanded its portfolio by acquiring a 70% stake in ESR GMR Logistics Park Pvt Ltd, completing the transaction on Thursday. This acquisition allows the company to fully consolidate its assets within the industrial and warehousing sectors.
The remaining 30% stake was already held by GMR Hyderabad Aerotropolis Ltd, a fully-owned subsidiary of GMR Hyderabad International Airport. The deal, valued at over Rs 41 crore, aligns with GMR's strategic goal to enhance its airport-based industrial assets.
GHIAL had entered into a share purchase agreement to complete the transaction. On announcement, GMR Airports' shares gained 1.44% on the BSE, closing at Rs 84.75, reflecting market optimism towards this expansion.
(With inputs from agencies.)
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