GMR Hyderabad International Airport acquires 70% stake in Logistics Park

GMR Hyderabad International Airport Ltd, a subsidiary of GMR Airports Ltd have completed the the acquisition of 70 per cent stake in its associate company ESR GMR Logistics Park Pvt Ltd. This news has been confirmed by GMR Airports Ltd on Thursday.

 GMR Hyderabad Aerotropolis Ltd (GHAL), a wholly-owned subsidiary of GMR Hyderabad International Airport, already holds a 30 per cent stake in ESR GMR Logistics Park Pvt Ltd (EGLPPL).

 EGLPPL, an associate company of GMR Hyderabad International Airport, is into development of warehousing and logistics parks in Hyderabad.

 For the transaction, GMR Hyderabad International Airport had entered into a share purchase agreement with other shareholders.
"Upon fulfilment of conditions precedent, the process of transfer of share and exchange of consideration between the GHIAL and ESR Group has been concluded," GMR Airports said in a regulatory filing on Thursday.