MUMBAI, Oct. 28 (Xinhua) -- India's GVK Power & Infrastructure Limited has entered pact to sell stake in its airport holding subsidiary to two global investment institutions and one domestic sovereign fund to attract an investment of 1.07 billion U.S. dollars, a company statement said late Sunday.
The three institutions include Abu Dhabi Investment Authority (ADIA), Canada-based Public Sector Pension Investment Board (PSP Investments) and India's National Investment & Infrastructure Fund.
They will hold equal stake post completion of transaction, while GVK Airport Developer Limited will hold 20.9 percent stake in GVK Airport Holding Limited, the statement said.
GVK Airport Holding is the promoter company of Mumbai International Airport Limited (MIAL) that operates and manages the Chhatrapati Shivaji Maharaj International Airport (CSMIA) and is in the process of developing the proposed greenfield Navi Mumbai International Airport (NMIA) on the outskirts of Mumbai.
India has recently privatized three airports and more are in the line, said an official from the country's civil aviation ministry last week.
