GVK deposits Rs 1,248 crore in escrow account to acquire stake in Mumbai International Airport

GVK group on Thursday deposited Rs 1,248 crore in an escrow account for buying out Bidvest’s share in Mumbai International Airport (MIAL), people aware about the development said.

The arbitration tribunal had directed GVK Airports Holding (GVKAHL) to deposit the money required to purchase 13.5% stake held by South African firm Bidvest.