GVK Power denies pact with Changi AirportDecember 26th, 2011 - 4:34 pm ICT by IANS
New Delhi, Dec 26 (IANS) GVK Power Monday denied that it has entered into any agreement with Singapore’s Changi Airport to sell a stake in its airport business.
“The company, in the normal course of its business and as part of its growth plans, explores various possible options with one or more strategic business partner, within and outside India, to buy or sell equity stake in various business verticals of the company including the airport vertical,” the company said in a regulatory filing.
“However, as on date, neither the company nor its subsidiary have entered into any agreement with any party for selling equity stake in our airport vertical,” it added.
According to a media report, the firm had a pact with Changi Airports International for selling 26 percent stake in GVK Airport Holdings for approx Rs.2,200 crore.
At the Bombay Stock Exchange the shares of the company were 6.99 percent higher at Rs.11.78.
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