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GVK Power buys L&T's 17% stake in Bangalore Int'l Airport

GVK Power has acquired 17% in Bangalore International Airport (BIAL) from Larsen & Toubro for Rs 686 crore. The stake was acquired through its subsidiary and the acquisition was priced at Rs 105 a share. With this acquisition, GVK will now hold 29% stake in BIAL. The deal values BIAL at around Rs 4,040 crore.
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