GVK Power and Infrastructure Ltd is in talks with Siemens Project Ventures GmbH on picking up some or all of the German company’s stake in Bangalore International Airport Ltd, or Bial, which runs the new Bengaluru International Airport, according to sources. Siemens holds a 40% stake in Bial, but is required to stay invested for a specific period in accordance with the terms of the ownership agreement. GVK, therefore, plans to enter into an understanding with Siemens on buying the stake at a future date at a predetermined price.
GVK is also planning to buy Bidvest Group Ltd’s 27% stake in the Mumbai airport to add to the 37% it holds in Mial. If the plan to buy the Siemens stake succeeds, GVK will have majority control over two of
After acquiring a 17% stake in Bial from
As the largest shareholder in Bial, Siemens needs to stay invested for at least three years before it can dilute up to 14% and seven years before it exits the venture. While L&T has sold its entire stake,
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