Adani bought 50.5 per cent of the stake from GVK Group and 23.5 per cent from minority partners including Airports Company South Africa (ACSA), and Bidvest Group, becoming the majority stakeholder in Mumbai airport.
On Monday, Gautam Adani’s Adani Group said that it has acquired GVK Group’s stake in Mumbai airport, thus becoming the country’s largest private airport operator. Post the stake purchase transaction, Adani Group will have 74 per cent stake in Mumbai’s Chhatrapati Shivaji Maharaj International Airport.
Adani bought 50.5 per cent of the stake from GVK Group and 23.5 per cent from minority partners including Airports Company South Africa (ACSA), and Bidvest Group, becoming the majority stakeholder in Mumbai airport.
“Adani Airport Holdings Limited, the holding company of Adani Group for its airport business and a subsidiary of Adani Enterprises Limited) has entered into an agreement to acquire the debt of GVK Airport Developers Limited (GVK ADL),” Adani Enterprises mentioned in a regulatory filing.
Adani Group already operates 6 airports across the country, having won bids to run six Airport Authority-built non-metro airports in Lucknow, Jaipur, Guwahati, Ahmedabad, Thiruvananthapuram, and Mangalore.
GMR Group handles the Delhi and Hyderabad airports.
GVK Group, through its holding company GVK ADL, holds 50.50 per cent equity stake in Mumbai International Airport Limited, which in turn, holds 74 per cent stake in Navi Mumbai International Airport Limited.
“The Adani Group will also take steps to complete the acquisition of a 23.5 per cent equity stake from ACSA and Bidvest in Mumbai International Airport, for which it has obtained approval from Competition Commission of India,” Adani Enterprises said.
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