Photo: Mint
Photo: Mint

GMR Infra divests stake in four Indonesian firms

GMR Infrastructure said on Monday it has divested entire stake in four Indonesian coal mining entities through its step down subsidiaries

New Delhi: GMR Infrastructure said on Monday it has divested entire stake in four Indonesian coal mining entities through its step down subsidiaries. “...PTBSL Group entities have ceased to be subsidiaries of the company," GMR Infrastructure said in a filing today.

The company had announced in May 2017 regarding signing of conditional share and mandatorily convertible bonds purchase agreement by the step down subsidiaries of the company, GMR Infrastructure (Overseas) Limited and GMR Energy (Netherlands) B.V., for divestment of their entire stake in the 4 Indonesian entities, PT Barasentosa Lestari, PT Duta Sarana Internusa, PT Dwikarya Sejati Utama and PT UNSOCO — together PTBSL Group Entities, to PT Golden Energy Mines Tbk.

Shares of GMR Infrastructure closed at 20.25 a unit on the BSE, down by 4.03% from previous close.

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