Latest


GMR to increase stake in Delhi airport to 64 percent

  •   Wed, Mar 25 2015 03:43:44 PM

New Delhi/Mumbai, March 25 (IANS): GMR Airports Limited (GAL), a holding company of GMR Infrastructure Limited working on the airports vertical, on Wednesday said its stake in Delhi Airport will rise to 64 percent from the current 54 percent.

The company, in a regulatory filing with the National Stock Exchange, said it has "entered into an agreement to acquire 24,50,00,000 shares of face value of Rs.10 each, representing 10 percent equity stake in Delhi International Airport Private Limited (DIAL) from Malaysia Airports (Mauritius) Private Limited for a consideration of $79 million".

DIAL is a special purpose vehicle formed to carry out development, operation and management of the Indira Gandhi International Airport in Delhi.

"The acquisition is subject to approval from the Airports Authority of India, the grantor of concession for Delhi Airport and completion of other customary conditions precedent," the company said in the filing.

 
  

Top Stories


Leave a Comment

Title: GMR to increase stake in Delhi airport to 64 percent



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.

You might also like