Hyderabad, August 22: Hyderabad based GVK Power and Infrastructure Limited –GVKPIL — announced today that it proposes to acquire further equity shares in Bangalore International Airport Ltd.
Bangalore Airport & Infrastructure Developers Private Limited (BAIDPL), a step down subsidiary of the company has set to acquire 53,844,000 equity shares with a face value of Rs.10 each held by Siemens Project Ventures GMBH (Siemens), being 14% of the issued capital of Bangalore International Airport Limited (BIAL), at a price of Rs.114 per equity share.
The said acquisition will be completed after obtaining the requisite approvals, if any.
GVK is India’s largest infrastructure developer with experience and expertise spanning areas such as Energy, Airports, Roads and Urban Infrastructure. As on date GVK has invested over Rs.8502 Crores into infrastructure projects and has on hand projects in the pipeline of over Rs.25000 Crores.
Tags: AAI, Bangalore airport stake, Bengaluru, GVK, GVK Power and Infra, Zuirch airports