Moneycontrol Be a Pro
Get App
you are here: HomeNewsBusiness
Last Updated : Jul 29, 2019 06:16 PM IST | Source: PTI

CCI clears GVK Group's additional stake buy in Mumbai Airport

In March, GVK Power & Infrastructure had said its step-down subsidiary GVK Airport Holdings will acquire 12 crore shares or 10 per cent stake in Mumbai International Airport (MIAL) for Rs 924 crore from ACSA Global.

The Competition Commission has approved acquisition of ACSA Global's 10 per cent stake in Mumbai International Airport by GVK Airport Holdings in a deal worth Rs 924 crore.

In March, GVK Power & Infrastructure had said its step-down subsidiary GVK Airport Holdings will acquire 12 crore shares or 10 per cent stake in Mumbai International Airport (MIAL) for Rs 924 crore from ACSA Global.

Earlier, GVK Airport Holdings had purchased 13.5 per cent stake in MIAL from Bidvest.

Close

With the completion of 10 per cent stake buy from ACSA, GVK Group's shareholding in MIAL will increase to 74 per cent from the existing 50.5 per cent, GVK Power & Infrastructure had said in a statement.

"Competition Commission of India approves acquisition of entire share of ACSA Global in MIAL by GVK Airport Holdings Ltd," the CCI said in a tweet on July 27.

MIAL operates Mumbai aerodrome, which is the second busiest in the country.

Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
First Published on Jul 29, 2019 06:12 pm
Loading...
Sections
Follow us on
Available On