Mumbai: GMR today said any stake sale in DIAL that runs the New Delhi airport needs to be considered by the Ministry of Civil Aviation, amidst Germany's Fraport expressing interest in exiting the consortium.
GMR Group is majority stakeholder in the consortium, DIAL, while Fraport holds 10%. State-run Airports Authority has 26% while Eraman Malaysia holds 10%.
Last week, Fraport AG vice-president, global investments, Kai Zobel had said: "We are talking to our JV partner GMR. Hopefully, we would like to complete the transaction selling our entire stake in DIAL by the second or third quarter of the next fiscal."
However, DIAL, today said: "At this stage, the GMR Group is not engaged in any discussions or negotiations with Fraport on this matter."
05/11/12 PTI/Business Standard
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GMR Group is majority stakeholder in the consortium, DIAL, while Fraport holds 10%. State-run Airports Authority has 26% while Eraman Malaysia holds 10%.
Last week, Fraport AG vice-president, global investments, Kai Zobel had said: "We are talking to our JV partner GMR. Hopefully, we would like to complete the transaction selling our entire stake in DIAL by the second or third quarter of the next fiscal."
However, DIAL, today said: "At this stage, the GMR Group is not engaged in any discussions or negotiations with Fraport on this matter."
05/11/12 PTI/Business Standard
