Gmr Airports (singapore) Pte. Ltd. entered into a Sale and Purchase Agreement to acquire 11% stake in GMR Hyderabad International Airport Limited from Malaysia Airports Holdings Berhad (KLSE:AIRPORT) for $100 million on October 25, 2023. The transaction is expected to complete by the first quarter of 2024.

The proceeds from the Proposed Disposal are intended to be utilized for capital expenditure, general corporate purposes and to defray the expenses in relation to the Proposed Disposal. Trowers & Hamlins LLP acted as legal advisor to Malaysia Airports Holdings Berhad.