Malaysia Airports Holdings May Acquire Stake In KGS Arunmula Int'l Airport
by Vivek Singh
Malaysian government’s Malaysia Airports Holdings Berhad along with the Kerala government may pick up stake in KGS Arunmula International Airport Limited, as stated by BS. It is developed by Anil Ambani backed KGS Group.
The KGS group MD, Gigi George said the dilution of stake to Malaysia Airport could be upto 15% with them already being the technical and strategic partner for the project.
Last month Air Kerala was planning to raise R200 Cr as initial capital which would start operations with five leased aircraft flying to the Middle East, mainly catering to Keralites living in the Gulf region.
Global PE major Warburg Pincus decided to exit its five year old investment in Alliance Tire Group and large buyout funds like Carlyle, Bain and Blackstone have been approached to buy its stake, ET stated.
Infrastructure company IVRCL has sold its entire 75% stake in Chennai Water Desalination Ltd to Dubai based Utico FZC. The deal provides the plant having a networth of R24 Cr with an equity valuation of R150 Cr.