India-based GVK Power & Infrastructure has reached an agreement to divest a 79.1% stake in its airport business to raise Rs76.14bn ($1.07bn).
The company will use the funds to retire debt obligations and increase its 50.5% stake in Mumbai International Airport (MIAL).
The company will divest its stake in Abu Dhabi Investment Authority (ADIA), Public Sector Pension Investment Board (PSP Investments) and National Investment & Infrastructure Fund (NIIF).
