In a statement today, it said the divestment is part of MAHB’s efforts to streamline its overseas investment portfolio and unlock value from its non-core assets, in line with the group’s international business growth strategy.

The proceeds from the disposal will be redirected towards general corporate purposes and capital expenditures in assets where the MAHB group holds a more direct and controlling stake.

The proceeds are expected to be fully utilised within the next 12 months.

It said this strategic reinvestment approach is a key element of the group’s growth strategy.

“Allowing it to optimise its investment portfolio and strengthen its control over core assets, ultimately leading to greater long-term value for stakeholders,” it said.

GMR Hyderabad International Airport is the holding company that manages Hyderabad International Airport in India.

The airport operator group acquired the stake in 2009 for US$10 million (RM47.8 million) from GMR Group.

“Since the acquisition, MAHB has maintained a passive minority interest in the venture,” it stated.