Billionaire Gautam Adani’s conglomerate on Monday said it will take controlling stake in Mumbai airport through deals in which it will acquire the debt of current promoter GVK and buy out minority shareholders.
Adani Group will acquire GVK Airport Developers Ltd’s 50.50 per cent stake as well as buyout 23.5 per cent stake of Airports Company of South Africa (ACSA) and Bidvest Group (for which it has obtained Competition Commission of India approval), it said in a regulatory filing.
A controlling 74 per cent stake in Mumbai International Airport Ltd (MIAL), together with the six non-metro airports it bagged in a government tender, will make Adani Group the largest private operator of airports in India. State-run Airports Authority of India (AAI) runs most of the airports in the country.
