BENGALURU, Sept 9 Reuters India39;s GMR Airports Infrastructure said on Monday it increased its stake in the main airport in New Delhi to 74, by buying out Frankfurt Airport operator Fraport39;s 10 interest in a deal worth 126 million.

The Airports Authority of India AAI will continue to hold its 26 stake in Delhi International Airport Ltd DIAL, one of the country39;s biggest and busiest airport, GMR said.

The deal comes just over a month after heavy rainfall caused the airport39;s roof to collapse killing one person and shutting down a busy domestic terminal.

GMR, which also owns stakes in Hyderabad39;s Rajiv Gandhi International Airport and Goa39;s Manohar International Airport, said the deal was part of its strategy to strengthening its presence in core assets.

Fraport said the deal, which it expects to close in 180 days, will help it reduce its debt. It said the AAI and GMR shareholders have to approve the deal.

GMR39;s shares closed down 0.2, while Fraport39;s were up 1.

Reporting by Ashna Teresa Britto in Bengaluru; Editing by Savio D39;Souza

Source Reuters