CCI clears ADIA arm’s investments in GMR Infra Enterprises
GMR Infra Enterprises by a trust linked to the Abu Dhabi Investment Authority (ADIA).
In a statement, the regulator said Platinum Stone A 2014 Trust (acting through its trustee Platinum Rock B 2014 RSC) had proposed to subscribe to unlisted and unrated optionally convertible debentures (OCDs) of GMR Infra Enterprises.
GMR Group had in October said it had secured Rs 6,300 crore debt funding from ADIA and that the proceeds will be utilised for refinancing loans of GMR Enterprises, the promoter of GMR Airports.
“Prior to the issuance of OCDs as well as post the acquirer’s subscription to the OCDs, the target SPV (GMR Infra Enterprises) will acquire a cumulative of approximately 9% of the shareholding (on a fully diluted basis) of GMR Airports from its promoter, i.e., GMR Enterprises,” the regulator said in the statement on Tuesday.
Other deals
The CCI has also cleared a stake acquisition in logistics service provider Shiprocket by US-based venture capital firm KDT Venture Holdings, LLC.
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