GMR Infrastructure announced that consortium comprising the Tata Group, an affiliate of Singapore sovereign wealth fund GIC and Hong Kong-based SSG Capital Management would invest Rs 8,000 crore ($1.16 billion) in its airport’s unit. Post the deal, GMR Infrastructure and its units will hold about 54 per cent stake in the airports business, while the company’s Employee Welfare Trust will own 2 per cent. Tata will hold about 20 per cent, with GIC and SSG holding stakes of about 15 per cent and 10 per cent, respectively. The deal values GMR’s airports business at Rs 18,000 crore and allows for an earn-out of Rs 4,475 crore—linked to achievement of certain milestones and performance metrics over the next five years.