GVK taps NIIF-ADIA for Rs 6,500 crore to prevent Adani’s landing at MIAL
MUMBAI: NEW DELHI: GVKNSE 0.09 % is in advanced negotiations with a combination of National Investment and Infrastructure Fund (NIIF) and Abu Dhabi Investment Authority (ADIA) for Rs 6,500-crore funding in its flagship airport in Mumbai to counter advances by Gautam Adani to buy into it.
The decision to court the sovereign wealth funds (SWFs) is being seen as an effort to bring in a white knight, said multiple sources aware of the negotiations, when the stake sale exercise in the Mumbai International Airport Ltd (MIAL) has escalated into a full blown legal battle between GVK and its South African partner Bidvest.
