Canadian funding agency in talks to acquire stake in Hyderabad airport

Canada-based funding agency Caisse de Dépôt et Placement du Québec (CDPQ) is said to be in talks with the GMR Group to buy a 25-30 per cent equity stake in Hyderabad airport, in a deal valued $350 million-$400 million. The Abu Dhabi Investment Authority has also been in talks to buy a minority stake in the airport. Credit Suisse has been appointed lead arranger for the stake sale programme. Besides, reports also suggest that the GMR Group is simultaneously looking to raise capital for the Delhi airport project via a bond issue and has hired Deutsche Bank and JPMorgan Chase for the same.