Indian energy to logistics services company Adani Group has sought to acquire stakes in airport owner and operator Mumbai International Airport Ltd. (MIAL) at a valuation of 9,500 crore rupees ($1.3 billion).
MIAL, is a joint venture between GVK, Airports Authority of India (AAI), South African financial services to freight management company Bidvest and Airports Company South Africa (ACSA), an airport management company.
GVK Airport Developers owns 50.5 percent of MIAL, Bidvest holds 13.5 percent, ACSA owns 10 percent and the rest is with AAI.
Adani plans to buy 23.5 percent stake of ACSA and Bidvest. Bidvest’s holdings have been valued at $175.6 million or $1.08 per share.