Malaysia Airport Holdings (MAHB) has confirmed that it is to sell its entire 10% stake in Delhi International Airport operator, DIAL, to GMR Airports for around $80 million.
It is believed to be selling the stake due to frustrations with the Indian legislation that limits foreign ownership of domestic companies to 49% – a law that ensures that MAHB can never exercise any control over the management of the company.
Elsewhere in India MAHB currently has an 11% interest in Hyderabad–Rajiv Gandhi International Airport operator, GHIAL, where GMR has a controlling 63% stake.
If the DIAL deal is ratified, GMR’s stake in India’s capital city gateway will rise to 64% where the other stakeholders will remain the Airport Authority of India (26%) and German airport group, Fraport (10%).
30/03/15 Airport World
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It is believed to be selling the stake due to frustrations with the Indian legislation that limits foreign ownership of domestic companies to 49% – a law that ensures that MAHB can never exercise any control over the management of the company.
Elsewhere in India MAHB currently has an 11% interest in Hyderabad–Rajiv Gandhi International Airport operator, GHIAL, where GMR has a controlling 63% stake.
If the DIAL deal is ratified, GMR’s stake in India’s capital city gateway will rise to 64% where the other stakeholders will remain the Airport Authority of India (26%) and German airport group, Fraport (10%).
30/03/15 Airport World
