Zurich airport to divest 12% in Bangalore airport

Zurich airport to divest 12% in Bangalore airport
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First Published: Tue, Oct 06 2009. 10 56 PM IST
Updated: Tue, Oct 06 2009. 10 56 PM IST
Bangalore: Flughafen Zuerich AG, or Unique, operator of the Zurich airport in Switzerland, plans to divest a 12% stake in the Bangalore airport for about 100 million Swiss francs before taxes, the firm said in an emailed statement.
Zurich airport currently has a 17% stake in the Bangalore airport.
Bangalore International Airport Ltd, or Bial, is planning the next phase of expansion for the Bangalore airport, including an additional terminal and a second runway.
“Zurich airport intends to divest 12% of its venture in Bangalore to either an existing shareholder or a new strategic partner for the project in order to forge a strong development partnership for the next expansion,” the firm said.
The divestment process is expected to take 4 months.
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First Published: Tue, Oct 06 2009. 10 56 PM IST