Chennai: Adani Group today said it has reached an agreement to acquire GVK Group’s shareholding and control of Mumbai airport.
In a regulatory filing, Billionaire Gautam Adani’s Adani-led Adani Enterprise said, “Adani Airport Holdings has entered into an agreement to acquire the debt of GVK Airport Developers.”
“The Adani Group will also take steps to complete the acquisition of a 23.5 per cent equity stake from ACSA (Airports Company of South Africa) and Bidvest in MIAL for which it has obtained Competition Commission of India’s approval,” it added.
GVK Group holds 50.50 per cent equity stake in Mumbai International Airport Limited (MIAL). The debt will be converted into equity.