Canadian fund CDPQ is in talks to buy into GMR’s Hyderabad Airport Project. According to ET Now, the Canadian fund is looking to buy 25-30% stake in the project. “Deal value is likely to be around $350-400 million,” sources told the channel. It is also being said that Abu Dhabi Investment is also in the fray to buy a minority stake in Hyderabad Airport and Credit Suisse has been hired by GMR for its sale stake programme. The Delhi Airport of GMR may also mop up $500 million through bond sale.
Earlier this year, GMR Airports Limited won the international competitive bid for development and operation of the Mopa greenfield airport in North Goa. The concession period for the project will be 40 years, with a possible extension of another 20 years through bidding. The airport will be built under the BOT (Build Operate Transfer) model. GMR won the bid through a closely contested competitive bid process with Airports Authority emerging as the second highest bidder followed by the consortium of Essel Infra-Incheon. According to a press statement issued by the GMR Group, the successful bid will help reinforce its credentials as the largest airport developer and operator in India and one of the top five private airport developers across the world.