Sunday , December 15 2019
Home / BUSINESS / GVK Power’s arms ink pact with ADIA, NIIF
GVK Power’s arms ink pact with ADIA, NIIF

GVK Power’s arms ink pact with ADIA, NIIF

GVK Power and Infrastructure’s subsidiaries — GVK Airports Developer (GVKADL) and GVK Airport Holdings (GVKAHL) have signed a term sheet and exclusivity agreement with Abu Dhabi Investment Authority (ADIA) and the National Investment and Infrastructure Fund (NIIF) for an investment in new shares in GVKAHL equating to a 49 percent stake.

ADIA and NIIF were selected as the preferred partners by GVK. All proceeds from the proposed transaction will be used by GVK towards retiring debt obligations.

GVKPIL is an infrastructure development company. It engages in infrastructure and urban infrastructure projects. The company provides operation and maintenance services, manpower and consultancy services, and incidental services to owners of power plants, airports and infrastructure companies.