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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
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.