Corporate Watch

GVK Group subsidiary to purchase 12 cr shares in Mumbai airport

The purchase of this 10 percent stake from ACSA will push GVK Group's total shareholding in MIAL from the existing 50.5 percent to 74 percent

PSU Watch Bureau

Mumbai: GVK Airport Holdings, a subsidiary of GVK Power & Infrastructure, is set to acquire 12 crore shares of Mumbai International Airport (MIAL) for Rs 924 crores from ACSA Global, the parent company said on Friday. The purchase of this 10 percent stake from ACSA will push GVK-Group's total shareholding in MIAL from the existing 50.5 percent to 74 percent, a statement released by the company said.

GVK Airport Holdings Ltd…has exercised it right, under Right of First Refusal in terms of the Shareholders Agreement dated 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

"GVK Airport Holdings Ltd…has exercised it right, under Right of First Refusal in terms of the Shareholders Agreement dated 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 added.

Markets decline in early trade after US moves to levy additional 25% tariffs

BPCL expects full-scale development to resume soon at Mozambique LNG project: CMD

Govt appoints Akash Tripathi (IAS) as new Managing Director of SECI

Indian Oil raises Russian crude share to 24% in Q1, sees refining capacity hitting 98 MTPA by 2026

ACC approves major bureaucratic reshuffle across key ministries, PSUs and authorities