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Construction : Finance Update | March 2016 | Source : Infrastructure Today

Fraport looks to exit Delhi International Airport venue

Germany´s Fraport is looking to sell its entire stake in DIAL, a joint venture operating the IG International Airport in the national capital. Fraport holds 10 per cent in Delhi International Airport Ltd (DIAL), a three-way JV where the majority is held by GMR Infrastructure. Citing sources, media reports said Fraport is looking to exit from DIAL amid concerns it is not getting expected returns on investment. A Fraport AG spokesperson said, ¨It is not our policy to comment on speculation regarding our business partnerships¨. A DIAL spokesperson also declined comment. Currently, GMR holds 64 per cent in the airport venture while Fraport has 10 per cent and the remaining 26 per cent shareholding is with the Airports Authority of India (AAI). Early last year, Malaysia Airports (Mauritius) Pvt Ltd exited the joint venture by selling its entire 10 per cent stake to GMR Airports, a subsidiary of GMR Infrastructure.
 
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