Adani Group acquires 23.5 per cent stake in Mumbai International Airport

Chhatrapati Shivaji Maharaj International Airport. Pic/AFP

Adani Group's flagship holding company Adani Airport Holdings Ltd (AAHL) has acquired 23.5 per cent stake in the Mumbai International Airport Ltd (MIAL) from ACSA Global Ltd (ACSA) and Bid Services Division (Mauritius) Ltd (Bidvest) for Rs 1,685.25 crore.

In a regulatory filing, Adani Enterprises said that AAHL has acquired 28.20 crore equity shares of MIAL. AAHL is also a wholly owned subsidiary of Adani Enterprises.

"Adani Airport Holdings Ltd has acquired 23.5 per cent equity stake i.e. 28,20,00,000 equity shares of Rs 10 of Mumbai International Airport Ltd from ACSA Global Ltd and Bid Services Division (Mauritius) Ltd," the filing said.

Incorporated on March 2, 2006, MIAL is engaged in the business of development, construction and operation of the Chhatrapati Shivaji Maharaj International Airport.

In August last year, the AAHL entered into an agreement to acquire the debt of GVK Airport Developers Ltd (GVKADL) which in turn would help the Adani Group acquire controlling interest in MIAL.

GVKADL is the holding company through which GVK Group holds 50.50 per cent equity stake in the Mumbai International Airport Ltd (MIAL), which in turn holds 74 per cent equity stake in the Navi Mumbai International Airport Ltd.

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