New Delhi sources have reported that according to a regulatory filing Malaysian Airports Holding Berhard will sell its entire 11% stake in GHIAL, which operates the Hyderabad international aerodrome, for Rs. 484 crore. Presently according to sources GMR Airports Ltd has entered into an agreement to acquire 11% stake from Malaysian Airports Holding Berhard and its subsidiary MAHB (Mauritius) Pvt Ltd.
Meanwhile a subsidiary of GMR Infrastructure, GMR Airports will purchase 4,15,80,000 shares from the two Malaysian entities for a consideration of "USD 76 million (approximately Rs 484 crore)", the filing said and the deal is subject to standard approvals.
Further the GMR Hyderabad International Airport Ltd (GHIAL) is a special
purpose vehicle that operates Rajiv Gandhi International Airport at Hyderabad.
Currently, GMR Airports has 63% stake in GHIAL and post deal, it would increase
to 74% and other stakeholders in GHIAL are Airports Authority of India and
Telangana government, where both have 13% stake each.
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