India's GMR Airports, affiliates to buy 11% additional stake in Hyderabad airport

India's GMR Airports and its affiliates will buy an additional 11% stake in GMR Hyderabad International Airport from Malaysia Airports Holding Berhad's unit, the company said in a statement on Wednesday. GMR Aiports holds a 63% stake in GMR Hyderabad International Airport. The acquisition will raise its stake to 74%. Airports Authority of India and the government of Telangana state each holds 13% stake in GHIAL. GMR Airport entered into a share purchase agreement with Malaysia Airports Holding Berhad and its unit MAHB (Mauritius). The deal is likely to be completed within a maximum of 135 days from the date of execution of the agreement. The acquisition would be for a negotiated aggregate consideration of $100m, the company added.<br/>