Malaysian Airports to sell stake in Hyderabad airport operator for Rs 484 crore

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Updated: February 2, 2018 10:47:10 PM

Malaysian Airports Holding Berhard will sell its entire 11 per cent stake in GHIAL, which operates the Hyderabad international aerodrome, for Rs 484 crore, according to a regulatory filing.

Malaysian Airports Holding, GHIAL, Hyderabad international aerodome, GMR Airports, GMR infrastructure, Rajiv Gandhi International AirportMalaysian Airports Holding Berhard will sell its entire 11 per cent stake in GHIAL, which operates the Hyderabad international aerodrome, for Rs 484 crore, according to a regulatory filing. (Representative Image: IE)

Malaysian Airports Holding Berhard will sell its entire 11 per cent stake in GHIAL, which operates the Hyderabad international aerodrome, for Rs 484 crore, according to a regulatory filing. GMR Airports Ltd has entered into an agreement to acquire 11 per cent stake from Malaysian Airports Holding Berhard and its subsidiary MAHB (Mauritius) Pvt Ltd. 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.

The deal is subject to standard approvals. GMR Hyderabad International Airport Ltd (GHIAL) is a special purpose vehicle that operates Rajiv Gandhi International Airport at Hyderabad. Currently, GMR Airports has 63 per cent stake in GHIAL and post deal, it would increase to 74 per cent. Other stakeholders in GHIAL are Airports Authority of India and Telangana government. Both have 13 per cent stake each.

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