GMR Group on 6 June introduced the divestment of an 8,18,000 sqft warehouse facility situated at Hyderabad’s Rajiv Gandhi Worldwide Airport.
GMR Airports Infrastructure Restricted’s step-down subsidiary GMR Hyderabad Worldwide Airport Restricted (GHIAL) signed the definitive agreements and closed the transaction with ILP Core Ventures I PTE Restricted at an enterprise worth of ₹188.1 crore.
“This transaction is a testomony to GMR Group’s capabilities in growing world-class institutional-grade actual property challenge property and producing worth via a profitable exit. The ensuing cash-flows will assist in deploying capital in growth amenities and different progress alternatives on the Hyderabad Airport Land Improvement portfolio,” the official launch stated.
Based on particulars, the divestment of the warehouse facility was concluded utilizing the divestment of a 100% fairness stake of GMR Hyderabad Airport Property Restricted (GHAAL), which is a subsidiary of GHIAL and a particular function automobile that owned this warehouse facility. Submit conclusion of the transactions, GHAAL will stop to be a subsidiary of GIL, Package stated.
Included on 26 January 2017 in Singapore, ILP Core Ventures I Pte Ltd is a completely owned subsidiary of IndoSpace Logistics Parks Core Pte. Ltd. It owns a 00% shareholding of 11 Indian SPVs, which maintain totally developed and leased industrial and warehousing asset portfolio of 8.1 mn sft in India.
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Up to date: 06 Jun 2023, 07:58 PM IST
Supply: Live Mint