GVK Power & Infra acquires 100% stake in GVK Airport Services

GVK Power & Infrastructure has acquired 100 per cent stake in GVK Airport Services Pvt Ltd, a new subsidiary that will provide technical and consultancy services on the airport business of the firm.
"This new subsidiary (GVKASPL) of GVK Power & Infrastructure Ltd will provide all the necessary technical and consultancy services, within and outside India, on the airport business of the company," GVK Power said in a regulatory filing.
GVKASPL does not own or operate the Mumbai or Bangalore International Airports.
"Our airport business vertical is held by GVK Airport Developers Ltd which is another 100 per cent subsidiary of the company and there is no change in the current ownership / shareholding of Mumbai and Bangalore International Airports," it said.

GVK's Mumbai International Airport Pvt Ltd (MIAL) is a Public Private Partnership (PPP) 74:26 joint venture between GVK-led consortium and Airports Authority of India (AAI).
Bangalore International Airport Ltd (BIAL) is a joint venture where GVK-led consortium is the majority partner and state-owned airport operator AAI and the Karnataka government have 13 per cent stake each.