GVK to divest 26% stake in airport arm to PE for $600m
GVK Power & Infrastructure is looking to divest an approximate 26% stake in its airport subsidiary GVK Airport Developers – the largest stakeholder in the Mumbai and Bangalore airports. The company is in talks with four private equity suitors over the sale, which could be deal could be worth as much as INR30 billion ($602 million), according to LiveMint.
GVK Power's CFO Isaac George told media GVK received term sheets from four undisclosed private equity players, and the due diligence for the deal is expected to take about a month. The company is looking...
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