Adani Group takes over Mumbai airport
NEW DELHI: The Adani Group on Tuesday took over the reins of Mumbai Airport, checking in with a majority 74% stake in Mumbai International Airport Limited (MIAL).
The GVK Group, which built the “peacock” style Terminal 2 at Chhatrapati Shivaji Maharaj International Airport (CSMIA), has exited MIAL with Adani Airport Holdings Ltd (AAHL), a wholly owned subsidiary of Adani Enterprises, acquiring its entire 50.5% stake along with the 23.5% stake in MIAL held by two foreign firms.
Airports Authority of India holds the remaining 26%.
AAHL will begin the construction of the Navi Mumbai International Airport (NMIA) next month and complete the financial closure in the next 90 days. This new international airport will be commissioned in 2024, the infra major says.
