Tata, GIC and SSG buy into GMR Infra's airport business

Tata Group, Singapore’s sovereign wealth fund GIC and SSG Capital Management will invest Rs 8,000 crore ($1.15 billion) for a minority stake in GMR Airports Ltd. Rs7,000 crore will be spent on buying the stake and Rs1,000 crore will come as an equity infusion. Proceeds will be used to retire...