Latest News!!! Singapore’s Changi Airports International , which is a wholly owned subsidiary of Changi Airport Group will do partnership with GVK Airport Holdings Private Limited. According to the sources, the latter will get Rs 2000-2200 crore for the 26 percent stake.
The GVK Airport Holdings Private Limited is in Hyderabad, India and the Changi Airport Group has decided to buy the stake just before the bidding that was scheduled to happen for the new airport for Mumbai and in order to cater the Mumbai’s traffic.
The announcement of this deal will be made when it is finalized and it is likely to be in January 2012.
The advantages of this deal for GVK will be
- GVK will get to work with powerful Changi Airport Group
- The new airport that will be made in Mumbai will help to adjust and lighten the heavy traffic in the existing Mumbai’s airport.
- This deal will help GVK to come out of debt of Rs 5000 crore.
The pros for this deal for Changi, Singapore will be
With this deal, Changi Airport Group will be able to enter the India’s 2 biggest cities – Mumbai and Bangalore.