India: GVK hikes its stake in MIAL to 74% in bid to block rivals

India: GVK hikes its stake in MIAL to 74% in bid to block rivals

File photo of the Mumbai airport. GVK Airport owns a majority 50.5% stake in Mumbai International Airport and 43% in Bengaluru International Airport. Photo: Abhijit Bhatlekar/Mint

The GVK group has acquired the entire 10% stake of Airports Co. South Africa (ACSA) Global Ltd in Mumbai International Airport Ltd (MIAL) for 924 crore, increasing its total holding in the airport to 74%, it said on Friday.

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