GVK Power acquires 12% in BIAL

摘要

GVK Power & Infrastructure Ltd (GVKPIL), the Rs 2,000-crore Hyderabad-based company, has acquired 12 percent in Bangalore International Airport Ltd for Rs 485 crore from Flughafen Zurich AG through GVK Airport Developers Pvt Ltd (GVKADPL), a wholly-owned subsidiary of GVKPIL.rnThis is GVK's second foray into an airport project in India. It is also involved in modernisation of the Mum-bai airport. The acquisition would be completed on obtaining the necessary consents. The company has also entered into a Strategic Alliance Agree-rnment (SAA) with Unique Airports Worldwide AG (Zurich Airport) to collaborate for new airport projects in the Indian sub-continent.