Adani Group completes purchase of 23.5 per cent stake in MIAL

February 12, 2021

The Adani Group has completed the purchase of a 23.5 per cent stake in Mumbai International Airport Limited (MIAL) from Bidvest and Airports Company South Africa (ACSA). Adani has acquired a 13.5 per cent stake of Bidvest and a 10 per cent stake of ACSA, for a consideration of Rs 1,685 billion. Adani will get a controlling stake in MIAL upon conversion of the debt into equity. Besides, in January 2021, the Airports Authority of India (AAI) gave its approval to the Adani Group for acquiring GVK Group’s 50.5 per cent stake in MIAL. A few other government approvals are pending.