InvestorQ : Is the Adani deal to buy out the Mumbai Airport completed?
Tisha Malhotra made post

Is the Adani deal to buy out the Mumbai Airport completed?

Answer
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Aashna Tripathi answered.
4 weeks ago


Finally, it looks like the Adani group will get control of the Mumbai Airport business by buying out the stake owned by GVK Infra of Hyderabad. Adani has been eyeing the airport for some time which is an extension to their existing contracts for 6 airports.

The acquisition of stake will happen through a different route. Adani will acquire the debt of GVK Airport Developers through which GVK holds 50.5% stake in MIAL. By this route, Adani Enterprises will acquire 74% in Mumbai International Airport Ltd or MIAL.

Apart from taking on the GVK stake, the Adani group will also acquire 23.5% equity stake in MIAL that is currently being held by ACSA and Bidvest. Adani holding company will also infuse fresh funds into MIAL to ensure adequate liquidity for the business.

Adani will directly take over GVK’s debt from lenders like Goldman Sachs and HDFC which will also relieve GVK of various guarantee obligations. In addition, this also helps the quick progress on the Navi Mumbai International Airport, which needs to move to financial closure.


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Akshay gaonkar answered.
4 weeks ago


Yes this might impact the share of adani groups and share holder should be eying on the same and even new share buyers