Public Relations

GVK Power buys L&T's 17 per cent BIAL stake

Hyderabad-headquartered infrastructure developer, GVK Power and Infrastructure Ltd (GVKPIL), on Sunday acquired the entire stake of 17 per cent held by L&T Infrastructure Development Projects Ltd in Bengaluru International Airport Ltd (BIAL) for a total consideration of Rs 686 crore. - GVK Power acquires 12% in Bangalore Airport - Power & Infra gets board nod for raising Rs 1,800 cr - GVK Power promoter pledges 4.37% stake - Doctors screen passengers for Swine Flu at B"lore airport The acquisition, made through GVK Group’s wholly-owned subsidiary, GVK Airport Developers, was priced at Rs 105 per share. With this, GVKPIL will hold 29 per cent in BIAL. Siemens holds the largest stake in BIAL, at 40 per cent, while the Airports Authority of India and Karnataka State Industrial Investment and Development Corporation (KSIIDC), the financing arm of the Karnataka government for infrastructure projects, hold 13 per cent each. “The acquisition of additional stake in BIAL is in line with our objective of expanding GVK’s presence in the airports business. As BIAL embarks on the next phase of expansion, we wish to partner with all stakeholders to ensure that Bengaluru International Airport further consolidates its position as the leading airport destination in southern India,” GVKPIL CMD G V Krishna Reddy stated.


Add your comment:
Name:
Site address: http://
Your message:
Enter today\\\\'s date, 2 digits
(spam protection):

Categories
Business Ideas
Business Opportunities
Corporate
Home Business
International Business
Management
Online Business
Public Company
Public Relations
Small Business
News of the day
Infosys set to get K'taka contract on T&D losses
The Rs 380-crore tender is part of the Accelerated Power Development and Reform Programme of the central govt.
Popular Articles

Many poverties
A contentious statement on Indian poverty, put out some years ago by Arjun Sengupta, said that 78 per cent of Indians lived on less than Rs 20 a day. That figure always looked problematic, but has become a favourite statistical weapon in the hands of the Left. So it is just as well that the Suresh Tendulkar report on poverty has effectively nailed that number. The Tendulkar report says that 25.7 per cent of urban residents are below the new definition of the poverty line, because they spend less than Rs 578.80 per month. That is Rs 19/day, close to the Sengupta benchmark. Given the urban-rural mix of 28:72, if the Sengupta claim of 78 per cent for the country as a whole (urban and rural) is correct, then 92 per cent of all rural residents would have to be consuming less than Rs 20/day.

Dr Reddy's to strengthen domestic biz
Hyderabad-based Dr Reddy’s Labs plans to launch new generic drugs in various therapeutic segments to push domestic operations and get back on the list of top 10 companies in the country. The company, ranked 13th with a 2.7 per cent share in the Rs 55,000-crore domestic pharma market, is working to increase domestic sales.

© Copyright 2009