IDFC in talks to buy stake in India’s GVK Airports


airport5sq_lrgAn investor consortium led y private equity firm IDFC is reportedly in talks to buy a significant minority stake in GVK Group’s airports business.

The stake in GVK Airports Holdings is expected to be valued at $400m in a deal, said the Economic Times, citing two people with knowledge of the matter.

“The stake sale is being discussed at the holding company level for the airports business,” said one of the sources.

“IDFC can bring up to $150 million in the deal, while the rest will come from other investors.

The negotiations are at a preliminary stage with term sheets being discussed, said the report.

Last November IDFC and CDC agreed to make an investment in Indian independent renewable power producer Green Infra.

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