CCI approves deal involving GMR Infra Enterprises, Abu Dhabi-based trust

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CCI approves deal involving GMR Infra Enterprises, Abu Dhabi-based trust - Business Standard

Quick Summary:

The proposed combination involves subscription to unlisted and unrated optionally convertible debentures of GMR Infra Enterprises by Platinum Stone A 2014 Trust (acting through its trustee Platinum Rock B 2014 RSC Ltd), according to a release.

The Competition Commission of India (CCI) on Tuesday approved a proposed transaction involving GMR Infra Enterprises Pvt Ltd and a trust of the Abu Dhabi Investment Authority.

The shareholding of GAL held by GMR Infra Enterprises will be pledged in favour of the trust with a view to secure the debenture subscription amount, the release said.