Changi Airports Group is in talks to buy a 26% stake in the airport business of India’s GVK Power & Infrastructure, the Economic Times reported, according to Reuters.
Changi, which operates Singapore’s international airport, is likely to pay between 20 billion rupees and 22 billion rupees ($489 million to $539 million) 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.
Monday, December 26, 2011
Changi Airports may buy stake in India airport business-paper
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