MUMBAI | NEW DELHI: South Africa’s Bidvest Group has asked the Delhi High Court to direct GVK Airport Holdings to prove that it has the Rs 1,250 crore needed to acquire the stake held by the overseas investor in Mumbai International Airport Ltd (MIAL).
The court is hearing a petition filed by Hyderabad-based infrastructure conglomerate GVK Group, which claims that it has the right of first refusal (RoFR) on the 13.5% stake that Bidvest holds in MIAL.
The debt-laden GVK, which also plans to buy the 10% stake owned by another South African company ACSA Global in MIAL, is seeking to stave off a possible challenge for control after reports that the Adani Group had also sought to acquire the Bidvest stake.
