M&A

M&A

GMR Airports buys 11% more stake in GMR Hyderabad Airport for $100-M

Business Standard  

GMR Airports Ltd (GAL) will buy an additional 11% stake in GMR Hyderabad International Airport Ltd (GHIAL) from Malaysia Airports Holding Berhad (MAHB) for about USD 100 million (about INR 831 crore). This will take GAL's stake in GHIAL to 74%. GHIAL recorded a net profit of INR 32.99 crore for 2022-23, against a net loss of INR 108.1 crore in 2021-22. During 2022-23, the Hyderabad airport handled 21 million passengers, 160,597 air traffic movements, and 142,338 metric tonnes of cargo.