GMR Infrastructure’s subsidiary - GMR Hyderabad International Airport (GHIAL) has acquired 9,67,50,000 shares of face value of Rs 10 each, representing 44.61% stake in MAS GMR Aerospace Engineering Company (MGAE) from Malaysia Aerospace Engineering SDN BHD (MAE) for a nominal consideration.
Before acquisition of the stake, MGAE was a Joint Venture Company (JVC) of GHIAL and MAE. With this acquisition of stake from MAE, MGAE has now become a wholly owned subsidiary of GHIAL.
GMR Infrastructure is a Bangalore headquartered global infrastructure major with interests in Airports, Energy, Highways and Urban Infrastructure sectors. It has successfully employed the public-private partnership model to build a portfolio of high quality assets.