GVK group to increase its stake in MIAL from 50.5% to 74%
GVK Group is set to increase its stake in Mumbai International Airport Limited (MIAL). Recently GVK acquired 13.5% stake from South Africa-based Bidvest Services and will acquire 10% stake of ACSA Global.
GVK group is now buying 10 per cent of paid-up capital of ACSA Global, which includes a total 120 million shares at the rate of 77 Rs (US$ 1.11). MIAL is responsible for the operation, modernizing and upgrading of Chhatrapati Shivaji Maharaj International Airport in Mumbai. Located in the western state of Maharashtra, CSMIA is one of India’s busiest airports having recorded passenger traffic of 36.63 million in 2014-15, along with cargo traffic of 694,261 tonnes.
After the acquisition, GVK group will hold a majority of 74 % stake in MIAL and the remaining 26% stake is owned by AAI (Airport Authority of India).
Country updates
-
-
March 22, 2019
Cube Highways to acquire Delhi-Agra Toll Road from Reliance Infrastructure
Cube Highways and Infrastructure III Pte. Ltd., an affiliate of Cube Highways and a portfolio company of I Squared Capital through its ISQ Global Infrastructure Fund II, has entered into an agreement...
Read more -
March 06, 2019
Indian state government to challenge Adani's airport win in court
The High Court of Kerala, a state in south-west India, has ruled that the Airports Authority of India's decision to award a concession contract to develop, operate and manage Thiruvananthapu...
Read more -
March 04, 2019
Cube Highways to acquire more highway concessions from KNR Constructions
KNR Constructions Limited has announced that it has entered into two Share Purchase Agreements with Cube Highways and Infrastructure III Pte. Ltd. for KNR Chidambaram Infra Private Limited a...
Read more -
March 01, 2019
GIC, Mitsubishi Corp in talks to acquire 25-30% stake in GMR Airports
Singapore's GIC and Mitsubishi Corporation are reportedly in talks with GMR Infrastructure to acquire minority stakes in its subsidiary that focuses on the aviation sector, GMR Airports. The companies...
Read more -
March 01, 2019
GMR submits highest bid for Bhogapuram airport PPP in Andhra Pradesh
GMR Infrastructure Ltd has announced that its subsidiary GMR Airports Limited (GAL) has emerged as the highest bidder for the development, operations and management of a greenfield international...
Read more
