The holding company of GTL and GTL Inrastructure, Global Holdings Company (GHC), is reported to be in talks to acquire the Mumbai International Airport-based Indmar Aviation Services Company.
Reports suggest that a deal could be possible within a month. Global Projects and Aviations, a Global Holdings Company (GHC) subsidiary will be designated to acquire Indmar, according to sources.
Indmar, which provides maintenance and repair services to general aviation, has been cash-strapped for some time, and has also been reported to be looking for investors to raise funds.
Indmar operates across nine locations in India, and has a staff of 40 engineers. The company is reported to be engaged in a legal wrangle with the Mumbai International Airport Ltd (MIAL), as the latter has served an eviction notice to Indmar through Airports Authority of India (AAI) since the designated lease period has expired.
Global Projects plans to build an MRO (maintenance, repair and overhauling) facility at Baramati in Maharashtra. The company is also reported to have plans for making inroads into the air cargo business at the same base. The company is reported to be looking at expansion options via the inorganic route through acquisitions, in addition to starting up a heli-taxi service that would include charter and heli-tourism services.