Adani seeks more time to buy stake in Mumbai Airport
MUMBAI: Adani Properties wants the deadline for closing its proposed acquisition of Bidvest’s stake in GVK-controlled Mumbai International Airport Ltd. to be extended by three months to February 2020.
The company is willing to deposit the entire amount in a no-lien bank account if the transaction deadline is postponed to February 7 from November 7, Darius Khambata, senior counsel for Adani Properties, said in the Bombay High Court on Tuesday.
Bidvest agreed in April to sell stake to Adani Properties by September 30 for Rs 1,235 crore. Adani Properties approached the court to restrain Bidvest from selling its stake to any other party. GVK had exercised its right of first refusal to buy Bidvest’s holding.
