HYDERABAD- The GMR Group has raised its ownership in Rajiv Gandhi International Airport in Hyderabad (HYD) from 63% to 74%, having acquired the 11% stake previously held by Malaysia Airport Holdings Berhad (MAHB) Group for $100 million.
The remaining 26% stake is evenly divided between the Airports Authority of India and the Telangana government.
GMR Hyderabad Airport Stakes
According to a regulatory filing on January 26, GMR Airport Infra Ltd disclosed, “The company had, on Oct 25, 2023, informed the exchanges that GMR Airports Limited (GAL), a subsidiary of the company, along with its affiliate, entered into a share purchase agreement (SPA) with MAHB and MAHB’s wholly owned subsidiary, MAHB (Mauritius) Pvt Ltd (MAMPL) towards the acquisition of the 11% equity shareholding of GMR Hyderabad International Airport Limited (GHIAL) (step down subsidiary) held by MAHB and MAMPL (MAHB Group).”
The filing continued, stating that “the process of transfer of shares and exchange of consideration between the MAHB Group and GAL has been concluded. Post these acquisitions, GAL’s shareholding in GHIAL has increased from 63% to 74%.’
As of December 31, the passenger traffic at Hyderabad Airport surpassed 1.86 crore, marking the highest-ever figure year to date for the airport.
Lufthansa Frankfurt to Hyderabad Flights
In a reaffirmation of its dedication to India and an effort to expand its footprint on the subcontinent, Lufthansa Airlines (LH) is delighted to announce the commencement of direct flights between Hyderabad, the capital of the Indian state of Telangana, and Frankfurt (FRA), Germany.
Once renowned as the “City of Pearls” due to its historical significance in the pearl and diamond trade, Hyderabad has served as a pivotal hub for merchants and traders from across the globe.
Presently, it stands as India’s fourth-largest city, evolving into a burgeoning center for technology, aerospace, and the pharmaceutical industry.
Hyderabad boasts a substantial presence of major multinational corporations, including Google, Microsoft, Boeing, and Airbus. As a thriving capital in a prosperous state, both Hyderabad and the State of Telangana have significantly contributed to India’s economic success.
Functioning as an investment hub and a hotbed of innovation, Hyderabad seamlessly combines the timeless allure of its rich history with the vibrancy of 21st-century India.
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