GMR Airports Limited (GAL) and its affiliated companies, together known as the GMR Group, acquired 11 per cent of the shares of GMR Hyderabad International Airport Limited (GHIAL) from Malaysia Airports Holding Berhad (MAHB) and its subsidiary MAHB (Mauritius) Private Limited (MAMPL). The acquisition is valued at $100 million (Rs 750 crore).
Post the acquisition, GMR’s stake in GHIAL will increase to 74 per cent from 63 per cent. The transaction is expected to conclude within 135 days. The involvement of MAHB, an original shareholder, is acknowledged for its early support in airport development.
However, the shares were down by 0.33 per cent to Rs 54.08 at 3.19 pm on the BSE.