GMR Airports Limited said on Friday that it has increased its stake in Delhi Airport Operator Dial by 74% after completing the acquisition of 10% shareholding from Germany’s Freet.
Last September, the company, which is part of the GMR Group, announced to enter a share purchase agreement with FRORP AG Frankfurt Airport Services worldwide to buy a 10% stake in Delhi International Airport Limited.
âOn the expected approval and fulfillment of the conditions, the process of transfer of shares and the exchange of idea between the company and the Freet has been concluded.
GMR airports said in a regulatory filing on Friday, “Post this acquisition, the company’s stake in Dial has now increased from 64% to 74%.”
The Airport Authority of India has held the remaining 26% stake in the dial, which operates the Indira Gandhi International Airport in the national capital and is also the largest airport in the country.
The purchase of additional stake is part of the GMR group that consolidates its presence in the main assets.
GMR Airports Limited shares fell by Rs 72.70 to 1.37% on BSE on Friday.
Read more on business by NDTV benefits. (Tagstotransite) PTI (T) Delhi International Airport Limited (T) GMR Airports (T) Freet
