GVK seeking bigger slice of Bangalore and Mumbai Airports
Bangalore International Airport Ltd (BIAL) announced a major ownership change in early Dec-2009, with GVK Power & Infrastructure Ltd (GVKPIL) acquiring Larsen & Toubro’s 17% stake in the airport operator. The acquisition, valued at USD2.28 per share, totalled USD149.1 million and increased GVKPIL’s stake in BIAL to 29%. This values BIAL at USD877.1 million.
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