Zurich airport to divest 12% in Bangalore airport

Zurich airport to divest 12% in Bangalore airport

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.