GMR Airports to Acquire Major Stake in Logistics Venture
GMR Airports Ltd is set to acquire a 70% stake in ESR GMR Logistics Park Pvt Ltd through its subsidiary, GMR Hyderabad International Airport Ltd. This move will make the logistics park a wholly owned subsidiary of GMR Hyderabad and aligns with its strategy for diverse airport land development in Hyderabad.
- Country:
- India
GMR Airports Ltd announced on Wednesday that it will acquire a 70% stake in ESR GMR Logistics Park Pvt Ltd. The stake will be purchased by GMR Hyderabad International Airport Ltd, a subsidiary of GMR Airports.
GMR Hyderabad Aerotropolis Ltd, which already owns 30% of the company, will see ESR GMR Logistics Park Pvt Ltd become a wholly owned subsidiary following the transaction.
The move aligns with GMR Hyderabad's plan to utilize airport land for creating a diverse portfolio of industrial, commercial, and hospitality projects to boost regional socio-economic development.
(With inputs from agencies.)
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