GVK Power & Infrastructure on Friday said its step-down subsidiary, GVK Airport Holdings, will acquire 12 crore shares of Mumbai International Airport (MIAL) for Rs 924 crore from ACSA Global.
After the completion of the deal to buy 10 per cent from ACSA, along with the earlier purchase of 13.5 per cent from Bidvest, GVK Group’s shareholding in MIAL will increase to 74 per cent from 50.5 per cent, the company said in a filing to the stock exchanges.
“GVK Airport Holdings Ltd has exercised it right, under the right of first refusal in terms of the shareholders’ agreement on April 4, 2006… to acquire 12 crore equity shares of MIAL, constituting 10 per cent of the total paid-up share capital of MIAL, from ACSA at the rate of Rs 77 per share,” it said.
