Tripura News Point

GMR purchases the 11% of Malaysian companies’ shares in Hyderabad Airport, increasing its ownership to 74%

<p>By paying $100 million to purchase the 11% of Hyderabad Airport owned by Malaysia Airport Holdings Berhad (MAHB) Group, the GMR Group raised its ownership from 63% to 74%. The governments of Telangana and the Airports Authority of India jointly own the remaining 26% of the company.</p>
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<p>“The company had on Oct 25, 2023, informed the exchanges that GMR Airports Limited (GAL), a subsidiary of the company, along with its affiliate have entered into a share purchase agreement (SPA) with MAHB and MAHB’s wholly owned subsidiary, MAHB (Mauritius) Pvt Ltd (MAMPL) towards acquisition of the 11% equity shareholding of GMR Hyderabad International Airport Limited (GHIAL) (step down subsidiary) held by MAHB and MAMPL (MAHB Group).” “The process of transfer of shares and exchange of consideration between the MAHB Group and GAL has been concluded,” GMR Airport Infra Ltd stated in a regulatory filing on January 26. ” The petition also said that GAL’s stake in GHIAL has expanded from 63% to 74% as a result of these purchases.</p>