GVK Group to increase its stake in Mumbai International Airport to 64%

GVK Power & Infrastructure announced that GVK Airport Holdings, a step down subsidiary of the company, has exercised its right, under Right of First Refusal in terms of the Shareholders Agreement dated 4th April, 2006, subject to certain terms and conditions, as may be mutually agreed, regulatory and other approvals and also in accordance with the various contractual agreements between GVKAHL and Bid Services Division (Mauritius) (Bidvest), to acquire 16,20,00,000 equity shares of Mumbai International Airport (MIAL) MIAL), constituting 13.5% of the total paid-up share capital of MIAL, from Bidvest at the rate of Rs.77 per share. Upon completion of this acquisition, equity shareholding of the GVK Group will increase to 64% from the existing 50.5% of the total paid-up share capital of MIAL.

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