GVK Group co to acquire 12 cr shares in Mumbai airport for Rs 924 cr
22 March 2019 2:52 PM IST
After completion of deal GVK Group's shareholding in MIAL will increase to 74 pc from existing 50.5 pc, the company said.
Mumbai airport saw 16,749 flights in November last year and 18,184 in December 2016.
New Delhi: GVK Power & Infrastructure on Friday said its step-down subsidiary GVK Airport Holdings will acquire 12 crore shares of Mumbai International Airport (MIAL) for Rs 924 crore from ACSA Global.
After completion of this 10 per cent stake buy from ACSA along with the earlier purchase of 13.5 per cent from Bidvest, GVK Group's shareholding in MIAL will increase to 74 per cent from the existing 50.5 per cent, a company statement said. "GVK Airport Holdings Ltd...has exercised it right, under Right of First Refusal in terms of the Shareholders Agreement dated April 4, 2006....to acquire 12 crore equity shares of MIAL, constituting 10 per cent of the total paid-up share capital of MIAL, from ACSA at the rate of Rs 77 per share," it added.
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