GMR Group to sell assets, refinance loans to cut debt

GMR Group to sell assets, refinance loans to cut debt

Indian conglomerate GMR Group plans to sell roads, power and airport assets and refinance its loans to help reduce debt and expand its business, its chief financial officer said on Friday.

Saddled with 200 billion rupees ($3.10 billion) in debt, GMR is exploring various options including raising 5-6 billion rupees by monetising its road assets and 10-12 billion rupees by selling land or coal mines in Indonesia, CFO Madhu Terdal told reporters at a briefing. Read More…

 

 

Credit By: The Economic Times

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