Adani Group subsidiary,Adani Airport Holdings (AAHL), has completed acquisition of 23.5 per cent equity stake in Mumbai International Airport Limited (MIAL)
The stake was purchased from Airports Company South Africa (ACSA) and Bid Services Division (Mauritius) Limited for Rs 1,685.2 crore.
About AAHL
Adani Airport Holdings (AAHL), a wholly owned subsidiary of Adani Enterprises, has bought 28.20 crore equity shares in MIAL, that operates the Mumbai airport – the largest in the country after Delhi.
Stake details
The company has purchased 28,20,00,000 equity shares of Rs 10 each equivalent to 23.5% holdings.
The firm will acquire 74% stake in MIAL, which included 50.5% stake of outgoing promoter GVK Group. The remaining 26% in MIAL will be with Airports Authority of India. (AAI)
Statement in 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.”
Comment from Chairman
Gautam Adani, “Mumbai, the City of Dreams! It is a privilege to have an opportunity to serve the air travelers of one of the greatest Metropolis on our planet. #GatewaytoGoodness – Look forward to helping transform the Indian Airport Sector!.”
“The addition of the Mumbai International Airport and the Navi Mumbai International Airport to our existing portfolio of six airports provides us a transformational platform that will help shape and create strategic adjacencies for our other B2B businesses,” –Mint
Impact on Stock Market
Adani Enterprises shares hit a fresh 52-week high of Rs 683, up 7 per cent on the BSE, in the intra-day trade on Monday after Adani Airports completed acquisition of 23.5 per cent.
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