Mumbai International Airport: Adani Airports acquires 23.5% stake for ₹1,685 crore
Under the proposed deal, AAHL bought 28,20,00,000 equity shares in MIAL, it said in the regulatory filingPremium
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Adani Airport Holdings (AAHL), a wholly owned subsidiary of Adani Enterprises, has acquired 23.5 percent stake in Mumbai International Airport (MIAL) from ACSA Global (ACSA) and Bid Services Division (Mauritius), or Bidvest, for ₹1,685.25 crore, the company said in a regulatory filing.
Under the proposed deal, AAHL bought 28,20,00,000 equity shares in MIAL, it said in the regulatory filing. In continuation of our earlier intimation dated 31st August, 2020, we would like to inform that AAHL has acquired 23.5 percent equity stake i.e. 28,20,00,000 equity shares of ₹10 of MIAL from ACSA and Bidvest, AAHL said.
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Adani Airport Holdings Ltd (AAHL), the flagship holding company of the Adani group for its airports business, has acquired an additional 23 per cent stake in Mumbai International Airport Ltd (MIAL) from ACSA Global Ltd (ACSA) and Bid Services Division (Mauritius) Ltd or Bidvest for Rs 1,684.25 crore.
With this, the Gautam Adani-led group will have a 74 per cent stake in MIAL with the rest being held by the Airports Authority of India (AAI).
In August, the group had said it would acquire GVK Airport Developers’ (GVKADL) 50.50 per cent stake in MIAL. The group had then said that it was also looking to buy out the 23.5 per cent stake held by Airports Company of South Africa or ACSA and Bidvest.
Adani Airports buys 23.5% stake in Mumbai International Airport for $224.6m
Adani group chairman Gautam S. Adani. Photographer: Tomohiro Ohsumi/Bloomberg Premium
Adani Airport Holdings (AAHL), a wholly owned subsidiary of Adani Enterprises, has acquired 23.5 percent stake in Mumbai International Airport (MIAL) from ACSA Global (ACSA) and Bid Services Division (Mauritius), or Bidvest, for ₹1,685.25 crore, the company said in a regulatory filing.
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February 06, 2021 The Adani Group has completed the acquisition of 23.5 per cent of Mumbai International Airport Limited (MIAL) from ACSA Global Limited (ACSA) and Bid Services Division (Mauritius) Limited (Bidvest).
“AAHL has completed the acquisition of 23.5 per cent equity stake in MIAL. This acquisition forms part of the transaction pursuant to which AAHL proposes to acquire controlling interest in MIAL as specified in our intimation dated August 31, 2020,” the company said in a statement to the stock exchanges.
According to sources, under the proposed deal, the Adani Group will acquire 162 million shares at ₹56.25 apiece from Bidvest, aggregating to ₹911.25 crore. Adani will also buy over 120 million shares from Airports Company South Africa (ACSA) at ₹56.25 apiece, aggregating to ₹675 crore. This means it will acquire Bidvest’s 13.5 per cent stake and ACSA 10 per cent stake in MIAL.