Mumbai: Adani Group will acquire 74 percent stake in Mumbai Airport. In this context, the group has said that it has entered into a contract to acquire a stake in Mumbai Airport. The Adani Group, headed by industrialist Gautam Adani, aims to become the country's largest airport operator. Mumbai Airport is the second busiest airport in the country.
In fact, the Adani Group has bought a 50.5 per cent stake in Mumbai International Airport Limited (MIAL), the operator of Mumbai Airport, and 23.5 per cent stake in other minority shareholders like airports company South Africa and Bidvest Group. The Adani Group had agreed in March 2019 to buy a 13.5 per cent stake in South Africa's Bidvest Company for Rs 1,248 crore. The deal was denied by the GVK group using its first right of refusal, ie the first right provision on stake purchase. But GVK could not raise money to purchase this stake and the matter went to court. According to sources, the economic condition of the GVK group is not correct.
The Adani Group is betting on airports after a strong hold in the port area. The group recently received a tender to operate six airports. This includes Lucknow, Jaipur, Guwahati, Ahmedabad, Thiruvananthapuram and Mangalore.
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