GVK Power and Infrastructure Ltd has acquired 17 per cent stake in Bengaluru International Airport Ltd (BIAL) from L&T Infrastructure Development Projects Ltd for Rs 686 crore.

GVK said on Sunday that it paid Rs 105 a share for the L&T stake. With this, GVK's stake in BIAL has gone up to 29 per cent. The company had earlier acquired 12 per cent stake from Zurich Airport for Rs 484 crore through its subsidiary GVK Airport Developers.

The L&T stake was acquired through the GVK subsidiary, Mumbai Airport Developers, said a spokesperson for the company.

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Posted by claire at December 6, 2009 12:52 PM