26 Dec '11, 8am

Changi Airports Group may buy stake in Indian airport business

Changi Airports Group may buy stake in Indian airport business

Singapore's Changi Airport Group is in talks to buy a 26 per cent stake in the airport business of India's GVK Power & Infrastructure, the Economic Times reported. -- ST PHOTO: ALPHONSUS CHERN MUMBAI (REUTERS) - Singapore's Changi Airport Group is in talks to buy a 26 per cent stake in the airport business of India's GVK Power & Infrastructure, the Economic Times reported. Changi, which operates Singapore's international airport, is likely to pay between 20 billion rupees (S$488 million) and 22 billion rupees for the stake, the paper reported on Monday, citing people close to the deal. At the top end of that range, GVK's airport business would be worth about 80 billion rupees. GVK's shares were up 8.2 per cent at 11.90 rupees in late morning trading after rising as much as 18 per cent.

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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