Adani acquires 74 per cent equity stake in Navi Mumbai International Airport

GVK Power & Infrastructure Limited on Monday formally announced that it, along with its subsidiaries, GVK Airport Developers Limited (“GVKADL”) and GVK Airport Holdings Limited (“GVKAHL”) (collectively “GVK”), have agreed to cooperate with Adani Airport Holdings Limited (“AAHL”), the flagship holding company of Adani Group for its airports business (and a subsidiary of Adani Enterprises Limited (“AEL”) (collectively “Adani”).

Under the agreement, Adani would infuse funds into Mumbai International Airport Limited to provide liquidity support. GVK in a statement said Adani would achieve financial closure of the Navi Mumbai International Airport project at the earliest in order to commence construction.