GMR Power and Urban Infra Ltd arm receives $420 mn for sale of 30% in PT GEMS

GMR Coal Resources Ptd. Ltd., ('GCRPL') a step down subsidiary of GMR Power and Urban Infra Limited had entered into definitive agreements with PT Radhika Jananta Raya, a subsidiary of PT ABM Investama Tbk ("ABM"), for the divestment of its 30% equity stake in PT Golden Energy Mines Tbk ("PT GEMS"). Upon completion of all customary approvals, GCRPL has received the initial consideration of USD 420 mn.

Source : Equity Bulls

Keywords

GMRPowerandUrbanInfra GMRCoalResources StakeSale PTGems USD420Mn