GVK moves High Court to stop Bidvest from selling MIAL stake to third party
MUMBAI | NEW DELHI: GVK filed an injunction in the Delhi High Court to block South African partner Bidvest from selling its stake in Mumbai International Airport Ltd (MIAL) to a third party to preempt a possible takeover by the Adani Group, said people with knowledge of the development.
In February, GVK had said it will exercise its right of first refusal (RoFR) under the shareholders’ agreement to buy out 162 million equity shares representing 13.5% of MIAL from Bid Services Division (Mauritius) Ltd, a subsidiary of Bidvest Group Ltd.
