Adani to acquire Mumbai airport
MUMBAI : Adani group will take control of India’s second-busiest airport of Mumbai, in the biggest-ever thrust to its ambition to become a top airports operator.
The Gautam Adani-controlled conglomerate said on Monday that it has entered into a definitive pact to buy the debt of GVK Airport Developers Ltd, against which a 50.5% stake in Mumbai International Airport Ltd (MIAL) has been pledged.
The Adani group will also buy the combined 23.5% stake held by Airport Company of South Africa (Acsa) and South Africa’s Bidvest group in MIAL, for which it has obtained the approval of the Competition Commission of India, according to an Adani group statement. This would give the group a 74% stake in MIAL. The remaining 26% stake would be held by state-run Airports Authority of India.
