GMR Infra shares soar over 12% after CCI gives approval for group's proposed 49% stake sale in its airport business

Shares of GMR Infrastructure on Monday surged over 12 percent after the CCI gave approval for the GMR group's proposed 49 percent stake sale in its airport business to France's Groupe ADP

Press Trust of India February 24, 2020 14:45:50 IST
GMR Infra shares soar over 12% after CCI gives approval for group's proposed 49% stake sale in its airport business
  • The Competition Commission of India (CCI) on Friday gave approval for GMR group's proposed 49 percent stake sale in its airport business to France's Groupe ADP

  • The regulator's clearance is through the green channel, which allows for an automatic system for speedy approval of combinations, subject to certain conditions

  • On Thursday, GMR Infrastructure had said the French group would acquire 49 percent stake in its airport business for Rs 10,780 crore, a deal that will help the domestic entity reduce its debt burden

New Delhi: Shares of GMR Infrastructure on Monday surged over 12 percent after the CCI gave approval for the GMR group's proposed 49 percent stake sale in its airport business to France's Groupe ADP.

The stock hit a high of Rs 26.55, up 12.5 percent, on the BSE. Later, it shed some gains to trade higher by 10.81 percent at Rs 26.15.

GMR Infra shares soar over 12 after CCI gives approval for groups proposed 49 stake sale in its airport business

Representational image of airport. Reuters

On the NSE, the scrip was trading at Rs 26.30, up 11.21 percent.

The Competition Commission of India (CCI) on Friday gave approval for GMR group's proposed 49 percent stake sale in its airport business to France's Groupe ADP.

The regulator's clearance is through the green channel, which allows for an automatic system for speedy approval of combinations, subject to certain conditions.

On Thursday, GMR Infrastructure had said the French group would acquire 49 percent stake in its airport business for Rs 10,780 crore, a deal that will help the domestic entity reduce its debt burden.

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