GMR Airports Limited (GAL) has increased its ownership in GMR Hyderabad International Airport Limited (GHIAL) by acquiring 11% stake previously held by Malaysia Airport Holdings Berhad (MAHB). The transaction, involving the transfer of shares between the MAHB and the GAL, concluded on January 26.
According to the regulatory filing, the GAL on October 25 last announced a share purchase agreement with the MAHB and its wholly-owned subsidiary MAHB (Mauritius) Private Limited (MAMPL) for the acquisition of the 11% equity shareholding in the GHIAL.
Following the acquisition, GAL’s shareholding in GHIAL has risen from 63% to 74%, as stated in the filing. The Telangana government and the Airports Authority of India maintain a 13% equity stake each at the GHIAL.
“The acquisition of additional stake in the GHIAL is in line with our objective of consolidating our presence in core assets of the group and signifies the importance of Hyderabad airport in the overall group portfolio,” said chairman of GMR Group Kiran Kumar Grandhi in a release.
