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GVK Power raises stake in Mumbai airport firm to 50.5%
GVK Power & Infrastructure Ltd said on Wednesday its unit
signed an agreement to buy a 13.5% stake in Mumbai
International Airport Pvt Ltd (MIAL) from Bid Services
Division (Mauritius) Ltd.
As a result, GVK's stake in MIAL will increase to 50.5%. MIAL
was awarded the mandate for operating and modernizing Mumbai's
Chhatrapati Shivaji International Airport in April 2006.
GVK did not disclose financial details of the deal.
GVK is the largest stakeholder in MIAL, followed by the
Airports Authority of India which holds 26%.