On Saturday, Minister for Energy, DK Shivaumar wrote to Chief Minister Siddaramaiah, requesting him to stop GVK Group from selling its 10% share in Bengaluru International Airport Limited (BIAL) the company which manages the airport.
According to DK Shivakumar, the GVK group, had in March this year, sold 33% stake to a Canadian company - Fairfax Group and is now planning to sell its remaining 10% stake to Fairfax, which has also acquired 5% stake in the Zurich airport.
In his letter, Shivakumar termed this sale as “a matter of concern” for the “safety and security of the country”.
“If this happens (GVK’s sale of 10% stake), then the shareholders will be foreign ones only with Siemens Project holding 26% and Fairfax holding 74% of the shares. This is not advisable in the interest of offering high standard service to passengers and the safety and security of the country also becomes a matter of concern,” his letter reads.
18/06/17 News Minute
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According to DK Shivakumar, the GVK group, had in March this year, sold 33% stake to a Canadian company - Fairfax Group and is now planning to sell its remaining 10% stake to Fairfax, which has also acquired 5% stake in the Zurich airport.
In his letter, Shivakumar termed this sale as “a matter of concern” for the “safety and security of the country”.
“If this happens (GVK’s sale of 10% stake), then the shareholders will be foreign ones only with Siemens Project holding 26% and Fairfax holding 74% of the shares. This is not advisable in the interest of offering high standard service to passengers and the safety and security of the country also becomes a matter of concern,” his letter reads.
18/06/17 News Minute
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