GVK Group holds 50.50 p.c fairness stake in Mumbai International Airport Limited (MIAL). The debt can be transformed into fairness
New Delhi: Billionaire Gautam Adani’s Adani Group on Monday mentioned it has reached an settlement to acquire GVK Group’s shareholding and management of Mumbai airport.
Adani Airport Holdings has “entered into an agreement to acquire the debt of GVK Airport Developers,” Adani Enterprise mentioned in a regulatory submitting.
GVK Group holds 50.50 p.c fairness stake in Mumbai International Airport Limited (MIAL). The debt can be transformed into fairness.
The two companies didn’t give additional monetary particulars of the deal.
“The Adani Group will also take steps to complete the acquisition of a 23.5 percent equity stake from ACSA (Airports Company of South Africa) and Bidvest in MIAL for which it has obtained the Competition Commission of India’s approval,” it added.
Together with 50.50 p.c stake of GVK, Adani’s whole holding in Mumbai airport can be 74 p.c after completion of the transaction.
Find newest and upcoming tech devices on-line on Tech2 Gadgets. Get expertise information, devices evaluations & scores. Popular devices together with laptop computer, pill and cellular specs, options, costs, comparability.