GVK and partners agree to settle Mumbai Airport stake issue

GVK Infrastructure Limited and its partners – Airports Company South Africa and Bidvest Services – have decided to resolve the issue of selling stake in Mumbai International Airport Limited. Disputes emerged after GVK opposed plans by the other two partners to sell their minority stake to a third party, the Adani Group, by exercising the option of right of first refusal. To resolve the issue, the GVK Group has now offered to buy out the minority stake of both the investors by framing an agreement to acquire their shares. As per reports, the parties have also agreed to not press any further issues during negotiations.

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