HYDERABAD: GVK Power and Infrastructure Ltd Thursday said it agreed to offer 49% stake in GVK Airport Holdings Ltd in favour ofAbu Dhabi Investment Authority (ADIA) and the National Investment and Infrastructure Fund (NIIF).
In a filing with BSE, the city-based infra major said the transaction is subject to conclusion of confirmatory due diligence by ADIA and NIIF, agreement on definitive documents and satisfaction of customary closing conditions including regulatory and third party approvals and lender consents.
“GVK Airports Developer Ltd (GVKADL) and GVK Airport Holdings Ltd (GVKAHL), subsidiaries of out company have signed a term sheet and exclusivity agreement with the Abu Dhabi Investment Authority and the National Investment and Infrastructure Fund for an investment in new shares in GVKAHL equating to a 49% stake,” the filing said.
