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| Exchange Received Time 02/06/2017 15:41:39 Exchange Disseminated Time 02/06/2017 15:41:45 Time Taken 00:00:06 |
This is to inform you that the Board of Directors of our company vide its circular resolution dated, 2nd June, 2017 has approved the sale of residual 3,84,60,000 (Three Crore Eighty Four Lac Sixty Thousand) equity shares of INR 10/- (Rupees Ten Only) each (the 'Sale Shares') corresponding to 10% (Ten Per Cent) of the issued & paid up share capital in Bangalore International Airport Limited (BIAL) held by GVK Airport Developers Limited through Bangalore Airport & Infrastructure Developers Private Limited (BAIDPL), a step down subsidiary of the Company, to FIH Mauritius Investments Ltd ('FMIL') and / or its affiliates at an aggregate purchase consideration of Rs.1,290 Crore.
The above sale will be completed upon obtaining necessary consents / approvals as may be necessary including from the lenders.
A press note, being released in this regard, is enclosed for your information and record.
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