GMR Group to divest stake in Philippines' Cebu airport; to receive Rs 1,330 cr upfront payment - Business News: Latest News & Videos about market and economy | Trendmergers

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GMR Group to divest stake in Philippines' Cebu airport; to receive Rs 1,330 cr upfront payment

GMR Group is operating the airports at Delhi, Hyderabad and Bidar (Karnataka) apart from Cebu airport. Among others, it is also developing airports in Greece and Indonesia. GMR Airports International BV (GAIBV) is a step-down subsidiary of GMR Infrastructure Ltd and a direct subsidiary of GMR Airports Ltd. Shares of GMR Infrastructure rose 2.86% to Rs 39.50 apiece in morning trade on BSE.

from Industry-Economic Times
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