In a BSE filing, the company said it "will divest 33 per cent stake in Bangalore International Airport to Fairfax India Holdings Corporation through their wholly-owned subsidiaries in Mauritius for an aggregate investment of Rs 2,149 crore".
It further said: "Upon completion of this transaction, there would be reduction of debt burden of around Rs 2,000 crore and would also result in savings of interest costs to the extent of Rs 300 crore per annum."
GVK Power and Infrastructure stock was trading higher by 5.83 per cent at Rs 7.08 during the afternoon session on the BSE.
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