GVK Power denies pact with Changi Airport
December 26th, 2011 - 4:34 pm ICT by IANSNew 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.
- GVK to buy Siemens' Bangalore airport stake - Aug 22, 2011
- Anil Ambani talks of unlocking shareholder value (Roundup) - Sep 27, 2011
- Reliance Capital mulling bonus, banking entry: Ambani - Sep 27, 2011
- GVK acquires 12 percent stake in Bangalore airport - Nov 05, 2009
- Cash-rich Piramal picks up another 5.5 percent in Vodafone - Feb 04, 2012
- GVK picks L&T stake in Bangalore airport for Rs.686 cr - Dec 07, 2009
- Bharti to exit from financial services joint venture with AXA - Jun 10, 2011
- Reliance Capital gets regulator's nod to sell stakes to Nippon Life - Jun 13, 2012
- GVK Energy to set up two thermal power plants in Andhra - Jan 13, 2012
- Reliance Life concludes 26 percent stake sale to Nippon for $680mn - Oct 09, 2011
- Nippon's pact for 26-percent stake in Reliance asset firm - Mar 22, 2012
- Reliance Life exploring strategic equity partner among banks - Jul 20, 2011
- Hero Group arranges funds to acquire Hero Honda stakes - Mar 08, 2011
- Volvo to invest Rs. 400 crore to expand India operations - Oct 13, 2011
- Tata steel sells majority stake in refractory unit - Apr 21, 2011
Tags: airport business, airports, bombay stock exchange, business partner, changi airport, crore, equity stake, gvk power, India, New Delhi, pact, percent stake, rs 2, singapore, subsidiary, verticals