GMR group to buy 11 per cent stake in Hyderabad airport

Reportedly, the GMR group and its affiliates are to buy an additional stake of 11 per cent in the GMR Hyderabad International Airport (GHIAL)from Malaysia Airports Holding Berhad (MAHB) at an estimated cost of $100 million. This acquisition will raise the stake of GMR Airports in GHIAL from 63 per cent to 74 per cent. Reportedly, from the date of the execution of the agreement, the deal is likely to be completed within 135 days at the max.