GMR Airports purchases 11% more stake in GMR Hyderabad Airport for $100 mn

GMR Airports Limited (GAL) on Wednesday said it will increase its stake in GMR Hyderabad International Airport Limited (GHIAL) by acquiring an 11 per cent stake from Malaysia Airports Holding Berhad (MAHB) for approximately $100 million (about Rs 831 crore).

This will take GAL’s stake in Hyderabad airport operator GHIAL to 74 per cent.

The airport has India’s fourth-largest passenger handling capacity.

Kiran Kumar Grandhi, corporate chairman, GMR Group, said the acquisition was in line with “our objective of consolidating our presence in core assets of the group and signifies the importance of Hyderabad airport in the overall group portfolio.”