GMR Infra plans to sell its aircraft maintenance facility.

GMR Infra is looking to sell its aircraft maintenance facility after buying out its partner's stake in it, three senior executives said, a move in line with its strategy of selling assets to raise cash. None of them elaborated on the valuation that the company is looking for.

They also said the company hasn't started talking to potential buyers yet. The facility is part of an aero SEZ at the Hyderabad airport which is operated by the consortium GMR Hyderabad International Airport (GHIAL).

The facility itself is jointly owned by GHIAL and Malaysian Aerospace Engineering Sdn Bhd. On Wednesday, GMR got a conditional nod from India's commerce ministry to buy out its partner 50 per cent stake in the facility.


TIMES OF INDIA