 "bengaluru airport")
GVK has sold its residual 10 per cent stake in Bengaluru Airport to Fairfax India for Rs 1,290 crore. The transaction is expected to be completed by early next month. The company plans to use the proceeds of this sale to reduce its debt obligations.
In March 2017, GVK closed a deal with Prem Watsa's Fairfax to sell a 33 per cent stake in Bengaluru International Airport (BIAL) for $330 million. The deal was signed in March 2016. GVK retained a 10 per cent stake and the management of BIAL. The company had entered BIAL in 2010.
G V K Reddy, founder
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