Malaysia Airports Holding cancels Hyd airport stake sale pact with GMR
.jpg)
Malaysia Airports Holding Berhad has said it terminated the Share Purchasing Agreement (SPA) with the GMR Group for selling its 11 per cent stake to the latter as the Indian infra major did not fulfil the obligations as per the agreement before December 31.
GMR Infrastructure Limited in February last year said its subsidiary GMR Airports Limited entered into an agreement with Malaysia Airports Holding Berhad and its subsidiary to acquire 11 per cent of the stake that the Malaysian company is holding in GMR Hyderabad International Airport, for $76 million.
"The Board of Directors of MAHB wishes to announce that the SPA has been automatically terminated due to failure of the purchaser to complete their obligation in accordance with the terms of the SPA by 31 December 2018. Therefore, MAHB and MAHB (Mauritius) Private Limited shall remain as shareholders of GHIAL accordingly," MAHB said in a regulatory filing Wednesday.
GHIAL, a special purpose vehicle manages Rajiv Gandhi International Airport here.
GAL currently holds 63 per cent stake and the remaining in the company is held by Airports Authority of India (13 per cent) and the Telangana government (11 per cent).
GMR Infrastructure shares were trading at Rs 16 apiece on the BSE at 10 a.m.
Other Latest News
.webp)
A total subsidy of Rs 56,993 crore is given every year by the Indian Railways to all categories of passengers, with a 46 per cent rebate on every ticket, Railway Minister Ashwini Vaishnaw said on Wednesday.
Replying to multiple questions in the Lok Sabha on restoring discounts given to various categories of train passengers, he said if the price of a ticket is Rs 100, then the railways charges just Rs 54 for it -- a discount of 46 per cent.
.webp)
Punjab Chief Minister Bhagwant Mann strongly condemned the attack on Shiromani Akali Dal leader Sukhbir Singh Badal, who was fired at while performing 'sewa' outside the Golden Temple on Wednesday morning, and directed police to investigate the incident.
The chief minister also lauded the promptness of the Punjab Police in nabbing the attacker.
.webp)
Former Delhi Chief Minister Arvind Kejriwal on Wednesday launched a scathing attack on the BJP-led central government after three members of a family were found dead at their home in the national capital.
Describing the incident as "extremely painful and frightening," the AAP convener accused the Centre of allowing criminals a free hand and failing to ensure law and order in the capital.
.webp)
BJP leader Devendra Fadnavis is all set to return as Maharashtra’s chief minister for a historic third term, following a critical consensus reached during the BJP core committee meeting on Wednesday. The decision, which ended days of suspense, cements Fadnavis’s leadership at the helm of Maharashtra’s new government.
The proposal for Fadnavis's appointment was made by former Gujarat Chief Minister Vijay Rupani, who was appointed as the party’s observer for the Maharashtra legislature meeting.
.webp)
Leaders of several INDIA bloc parties protested on the Parliament premises on Wednesday over the Adani indictment issue and called for a joint parliamentary probe into the matter.
MPs of the Congress, AAP, RJD, Shiv Sena (UBT), DMK and the Left parties, among others, raised slogans in favour of their demand and held a banner reading "Modi-Adani are one" at Parliament's Makar Dwar. The TMC kept away from the opposition protest.
.webp)
.webp)
.webp)
.webp)
.webp)
