Economic Times of India - Anirban Chowdhury / Saloni Shukla
In a move that will catapult the Adani Group to being India's biggest airport operator by number of projects, GVK Power and Infrastructure has agreed to cede control of the Mumbai airport and the Navi Mumbai project to the conglomerate, according to separate statements from both entities.
Adani will also buy out Bid Services Division (Mauritius) Ltd or Bidvest which owns 13.5% in MIAL and Airports Company South Africa (ACSA) which owns 10%. Adani Group will eventually own 74% each in MIAL and the Navi Mumbai airport project.
Adani already has six privatised airports—Ahmedabad, Lucknow, Mangaluru, Thiruvanthapuram, Jaipur and Guwahati...more
