Bentley - YII Conference
JCB Warehouse JCB Warehouse
GMR Group to divest its entire 51% stake in Kakinada SEZ

GMR Group to divest its entire 51% stake in Kakinada SEZ

GMR Infrastructure has signed definitive agreements for the sale of equity owned by its wholly owned subsidiary GMR SEZ and Port Holding (GSPHL) of its entire 51% stake in Kakinada SEZ (KSEZ) to Aurobindo Realty and Infrastructure (ARIPL). As part of the proposed transfer of stake of KSEZ, the 100% equity stake of Kakinada Gateway Port (KGPL) held by KSEZ would also be transferred to Aurobindo Realty.

Total consideration for the sale of equity stake as well as the sub-debt in KSEZ is ₹ 2,610 crores. Out of the total consideration, ₹ 1,600 crores would be received on the closing date and balance ₹ 1,010 crore would be received in next 2 to 3 years which is contingent upon certain agreed milestones.

KSEZ is engaged in the business of implementation of a port based multi-product special economic zone project at Kakinada, East Godavari District, Andhra Pradesh and KGPL has the Concession granted by the Govt. of Andhra Pradesh to set up a greenfield commercial port in Kona Village of the East Godavari Dist, of Andhra Pradesh.

The sale transaction shall be subject to receipt of Regulatory and other Statutory Approvals.

  • About Us

    EPC World Media Group is a one stop knowledge information hub for Infrastructure, EPC and Construction sector. It strives to promote, propagate and assist the decision and policy makers from government and private organizations along with the technology developers and service providers to enhance and develop their capabilities. EPC World Media facilitates knowledge transfer to grassroots and strengthens their productivity.....

    Read More.....
  • Featured Videos

  • Connect Us