CCI Approves Strategic Deal Between GMR Infra and Abu Dhabi Investment Authority

The Competition Commission of India has approved a transaction involving GMR Infra Enterprises and a trust linked to the Abu Dhabi Investment Authority. The deal includes debenture subscriptions and a 9% stake acquisition in GMR Airports. GMR Group also secured significant debt funding for refinancing purposes.

The Competition Commission of India (CCI) has given the green light to a strategic transaction between GMR Infra Enterprises Pvt Ltd and a trust associated with the Abu Dhabi Investment Authority. This transaction involves the subscription of unlisted and unrated optionally convertible debentures by Platinum Stone A 2014 Trust.

As part of the deal, GMR Infra Enterprises will acquire an approximate 9% stake on a fully diluted basis in GMR Airports Ltd (GAL) from GMR Enterprises Pvt Ltd, its promoter. This stake will be pledged in favor of the trust to secure the debenture subscription amount.

Furthermore, GMR Group announced that it has secured Rs 6,300 crore in debt funding from the Abu Dhabi Investment Authority to refinance debt held by GMR Enterprises Pvt Ltd. This financial maneuver underscores the strategic interests of both parties involved.

(With inputs from agencies.)