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MUMBAI: GVK Power & Infrastructure Ltd (GVKPIL) has informed BSE that the company proposes to acquire 6,53,82,000 shares being 17 per cent of the paid up equity share capital of Bangalore International Airport Ltd (BIAL) at a total cost of Rs 686,51,10,0 00 from L&T Infrastructure Development Projects Ltd through a step down wholly owned subsidiary of GVKPIL. The acquisition will be completed upon obtaining necessary consents.

The earlier acquisition of 12 per cent equity shares in BIAL from Flughafen Zuerich AG is also being done through the same step down wholly owned subsidiary of GVKPIL instead of GVK Airport Developers Pvt Ltd. — Our Bureau

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