Airtel offloads 10.3% in Bharti Infratel to KKR
Bharti Airtel today announced the successful completion of the secondary sale of over 190 million shares of its subsidiary Bharti Infrabel representing 10.3%, to a consortium of funds advised by KKR and Canada Pension Plan Investment Board (“CPPIB”) The deal has been sealed for a total consideration of over Rs 6,193.9 Crore (approximately $951.6 million), executed at a price of Rs 325 per share. Bharti Airtel will primarily use the proceeds from this sale to reduce its debt. Following the closure of this transaction, Bharti Airtel’s equity holding in Bharti Infratel stands at 61.7%, and that of KKR and CPPIB would be at 10.3%.... See More