Adani’s MIAL takeover approved by AAI

The Airports Authority of India (AAI) has approved Adani Group’s share transfer proposal for Mumbai International Airport Ltd (MIAL) from GVK Airports Holding, making Adani Airports the largest shareholder of MIAL. A senior government official informed a reputed media source that AAI approved the proposal without any objections. Adani Group will offer the same fee as GVK Holdings and the official name, ‘Chhatrapati Shivaji Maharaj International Airport’ will remain unchanged. Adani Group is to take over the 50.5% stake of GVK holdings, which is a majority stakeholder in MIAL. Adani Airports is also set to acquire the 23.5% stake of Bid Services Division Mauritius (Bidvest) and Airports Company South Africa (ACSA). The remaining 26% stake will be held by AAI. Image Source