GMR Infrastructure, the infrastructure holding company of GMR group, announced that GMR Hyderabad International Airport (GHIAL) a subsidiary of GMR Infrastructure on Dec. 12, 2014 has acquired 9,67,50,000 shares of face value of Rs 10 each, representing 44.61% stake in MAS GMR Aerospace Engineering Company (MGAE) from Malaysia Aerospace Engineering SDN BHD (MAE) for a nominal consideration.

Before acquisition of the stake, MGAE was a joint venture company of GHIAL and MAE. With this acquisition of stake from MAE, MGAE has now become a wholly owned subsidiary of GHIAL.

Shares of the company declined Rs 0.25, or 1.39%, to trade at Rs 17.80. The total volume of shares traded was 352,023 at the BSE (10.43 a.m., Monday).