MUMBAI: Global investors Abu Dhabi Investment Authority (ADIA) and Canada’s Public Sector Pension (PSP) Investments have written to the government of India seeking a fair and transparent solution to the ongoing takeover drama surrounding the Mumbai International Airport Ltd, the crown jewel of the GVK Group. The two global investors have sought a meeting with government officials at the earliest to discuss the way forward, according to multiple sources aware of the matter.
This letter addressed to the finance ministry and the Prime Minister’s Office (PMO) was sent last week, right after the investor consortium allowed the Reddy family, the promoters of the GVK Group, to talk to third parties, namely the Adani Group, to explore a deal even though they have “deal exclusivity” till January 31, 2021. Without this ‘carve-out’, negotiations with a new suitor is a breach of contractual terms.
