GVK plans to raise Rs 3,500 cr from airport biz stake sale

Mumabi: After talks with Changi Airport failed to sell 26 per cent in its airport business, GVK Power and Infrastructure Ltd is in discussions with a few private equity players in an effort to dilute stake in GVK Airport Holdings.
According to sources in the know, discussions are on with a few infrastructure-focused PE majors such as Macquarie SBI Infrastructure Fund (MSIF), Morgan Stanley Infrastructure Partners and JPMorgan Asian Infrastructure Fund. Kotak Mahindra Bank and Macquarie are jointly advising GVK on the sale process. It is learnt that GVK has plans to raise about $600-650 million (Rs 3,300-3,500 crore) through the sale. GVK Airport Holdings operates the Mumbai and Bangalore airports.
03/07/12 Reghu Balakrishnan & Katya Naidu/Business Standard

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Categories: airports Jul 2012