GMR Airports Ltd. announced on Thursday that its subsidiary, GMR Hyderabad International Airport Ltd. (GHIAL), has completed the acquisition of a 70% stake in ESR GMR Logistics Park Pvt. Ltd. (EGLPPL), making it the full owner of the joint venture.
GHIAL’s wholly owned unit, GMR Hyderabad Aerotropolis Ltd. (GHAL), already held a 30% stake in EGLPPL. The company develops warehousing and logistics parks in Hyderabad.
The acquisition was completed following a share purchase agreement between GHIAL and ESR Group and the fulfillment of all necessary conditions.
In an earlier disclosure dated May 21, GHIAL stated it would acquire the remaining stake for over ₹41 crore.
“This strategic acquisition will expand and strengthen our airport-centric industrial and logistics infrastructure,” the company said in a regulatory filing.