GMR to buy 11% in Hyderabad airport from Malaysia company

GMR Group plans to increase its stake in Hyderabad airport by acquiring Malaysia Airports Holding Berhad’s 11% stake for $100 million by March 2022. Currently, GMR Airports holds 63% of GMR Hyderabad International Airport and after the acquisition, it will increase to 74%. The Government of Telangana and Airports Authority of India each hold 13% in GHIAL. The acquisition is part of GMR Group’s strategy to consolidate its presence in core assets and highlights the importance of Hyderabad airport in its portfolio.