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Malaysia's MAHB sells stake in Delhi airport

[KUALA LUMPUR] Malaysia Airport Holdings Bhd said on Tuesday it will sell its entire 10 per cent stake in Delhi International Airport for US$79 million.

MAHB said it was selling the stake because Indian law limiting foreign ownership of domestic companies to 49 percent meant it could not exercise any control over the management of the company.

MAHB will sell its stake in the capital's airport to GMR Airports Ltd, a unit of India-listed GMR Infrastructure Ltd. The company will focus on investments that allow a "significant degree of control" in their operations.