GVK seeking bigger slice of Bangalore and Mumbai Airports

11th December, 2009

Bangalore International Airport Ltd (BIAL) announced a major ownership change in early Dec-2009, with GVK Power & Infrastructure Ltd (GVKPIL) acquiring Larsen & Toubro’s 17% stake in the airport operator. The acquisition, valued at USD2.28 per share, totalled USD149.1 million and increased GVKPIL’s stake in BIAL to 29%. This values BIAL at USD877.1 million. [830 words]

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This report contains the following subheadings:

Bengaluru Airport reports third consecutive month of domestic traffic growth
GVKPIL expanding “presence in the airports business”, interested in a larger stake of Mumbai Airport
Mumbai Airport reports strong domestic traffic growth, international traffic disappoints
New Airports Economic Regulatory Authority considering rise in development fees at Bangalore and Mumbai

This report contains the following charts and tables:

Bangalore International Airport passenger traffic growth (% change year-on-year): Sep-2008 to Sep-2009
Mumbai International Airport passenger traffic growth (% change year-on-year): Sep-2008 to Sep-2009

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