Cyril Amarchand Mangaldas acted as legal counsel for GMR Hyderabad Aerotropolis Limited (“GHAL”) and GMR Hyderabad International Airport Limited (“GHIAL”) in relation to GHIAL’s acquisition of remaining 70% (seventy percent) stake in the ESR GMR Logistics Park Private Limited (“EGLPPL”) (“Sale Securities”) from ESR Hyderabad 1 Pte. Limited (“EH1PL”). GHAL, a wholly owned subsidiary of GHIAL, has an existing stake equivalent to 30% (thirty percent) in EGLPPL. GHAL will also be infusing money into EGLPPL by means of inter-corporate deposits for redemption of securities held by EH1PL and ESR India Investor Pte. Ltd. (“EIIPL”) (“Redemption Securities”). With this transaction, GHIAL will have complete operational and strategic control of EGLPPL, which is involved in developing warehousing and logistics infrastructure in proximity to the Rajiv Gandhi International Airport.
The team was led by Ajay Sawhney, Partner (Head – Northern Region); and Aditi Misra, Partner; with the support from Nikhil Gupta, Associate; Aishik Majumder, Associate; and Divisha Dwivedi, Associate.