KUALA LUMPUR (Reuters) - Malaysia Airport Holdings Bhd said on Tuesday it will sell its entire 10 percent stake in Delhi International Airport for $79 million.
MAHB said it was selling the stake because Indian law limiting foreign ownership of domestic companies to 49 percent meant it could not exercise any control over the management of the company.
MAHB will sell its stake in the capital's airport to GMR Airports Ltd, a unit of India-listed GMR Infrastructure Ltd. The company will focus on investments that allow a "significant degree of control" in their operations.
For the full statement, please click:
http://bit.ly/1BKnh8c
(Reporting By Al-Zaquan Amer Hamzah, editing by Louise Heavens)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app