The Adani Group has taken over the management control of Mumbai airport.
he Adani Group has taken over the management control of Mumbai airport agencies reported on Tuesday. The Group last August had announced that it would acquire GVK Group’s stake in Mumbai airport.
Adani Group will have 74 per cent stake in Mumbai’s Chhatrapati Shivaji Maharaj International Airport, post the stake purchase transaction, with 50.5 per cent being bought from GVK Group and 23.5 per cent from minority partners including Airports Company South Africa (ACSA), and Bidvest Group, it had said.
“We are delighted to take over management of the world-class Mumbai International Airport. We promise to make Mumbai proud. The Adani Group will build an airport ecosystem of the future for business, leisure and entertainment. We will create thousands of new local jobs,” Adani Group chairman Gautam Adani said in a tweet.
Takes over control from GVK Group
Later in a statement, Adani Airport Holdings Ltd (AAHL), a wholly-owned subsidiary of Adani Enterprises Ltd, said it has taken over the management control of Mumbai International Airport Limited (MIAL) from the GVK Group following the MIAL Board Meeting earlier in the day.
This follows approvals received from the Central Government, the City and Industrial Development Corporation (CIDCO) of Maharashtra, and the Government of Maharashtra, it added.