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Gvk Inks Pact To Sell 49% Stake In Airports Business To Adia & Niif - The Economic Times

by economictimes.indiatimes.com posted 1month ago 11 views
HYDERABAD: Infrastructure conglomerate GVK Power & Infrastructure said it signed an agreement to sell a 49% stake in its airports business to the Abu Dhabi Investment Authority (ADIA) and the National Investment & Infrastructure Fund (NIIF). The investments will help the cash-strapped group to stave off overtures from Gautam Adani keen to buy the flagship Mumbai airport.The Adani Group made an offer in January for the 23.5% held by two South African companies, prompting GVK to ringfence itself.According to the term sheet, the ADIA and the local fund would invest in GVK Airport Holdings by acquiring new shares.

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