GVK has sold its residual 10% stake in Bangalore International Airport to Fairfax India Holdings for Rs 1,290 crore..The move will help it reduce “debt burden” and focus on Mumbai and Navi Mumbai airports, reported ET..Cyril Amarchand Mangaldas advised GVK Mumbai-based infrastructure & project financing partners L. Viswanathan and Subhalakshmi Naskar..AZB & Partners acted for Fairfax India Holdings with a team led by Partner Ashwin Ramanathan along with Associate Shivanand Nayak..GVK had earlier sold 33% in the airport to Fairfax, for Rs. 2,202 crore..Fairfax has also bought another 5% in the airport company from Flughafen Zurich AG, taking its holding to 38%. The latest deal takes its total ownership in India’s third-busiest airport to 48%.
GVK has sold its residual 10% stake in Bangalore International Airport to Fairfax India Holdings for Rs 1,290 crore..The move will help it reduce “debt burden” and focus on Mumbai and Navi Mumbai airports, reported ET..Cyril Amarchand Mangaldas advised GVK Mumbai-based infrastructure & project financing partners L. Viswanathan and Subhalakshmi Naskar..AZB & Partners acted for Fairfax India Holdings with a team led by Partner Ashwin Ramanathan along with Associate Shivanand Nayak..GVK had earlier sold 33% in the airport to Fairfax, for Rs. 2,202 crore..Fairfax has also bought another 5% in the airport company from Flughafen Zurich AG, taking its holding to 38%. The latest deal takes its total ownership in India’s third-busiest airport to 48%.
