GVK-Bidvest talks on stake sale have failed: Lawyers to Delhi HC
The talks between GVK Airport Holdings, a step-down subsidiary of GVK Power & Infrastructure, and Bid Services Division (Mauritius), an arm of Bidvest, to come to an agreement on the stake sale of the latter in Mumbai International Airport Limited (MIAL), has not yielded any result, the lawyers for the two parties informed the Delhi High Court (HC) on Thursday. The court will now start hearing both the parties from April 29.
GVK Airport Holdings and Bid Services Division (Mauritius) had on Monday told the HC that they wanted to sit down and talk to each other before moving further on the injunction plea moved by GVK. During the hearing on Thursday, Bidvest also gave an undertaking to the HC that it would not take any steps on the proposed stake sale.
