GVK Power and Infrastructure (GVKPIL) said that its step-down subsidiary, GVK Airport Holdings, has exercised its right, under right of first refusal, in terms of the shareholders agreement to acquire 12 crore equity shares of Mumbai International Airport (MIAL), constituting 10% of the total paid-up share capital of MIAL from ACSA Global. The company acquired 10% stake at the rate of Rs 77 per share, which amounts to about Rs 924 crore.
Upon completion of this 10% acquisition, along with the earlier acquisition of 13.5% stake from Bidvest, the equity shareholding of the GVK group will increase to 74% from the existing 50.5% in MIAL, GVK said in a filing to the stock exchange.
