Bidvest restrained from selling stake in MIAL by Arbitration tribunal
The arbitration tribunal has restrained Bidvest from the transfer of its 13.5% stake in Mumbai International Airport Pvt. Ltd. (MIAL) to the bidder Adani. The hearing stated that no transfer will take place until the final disposal of Arbitration proceedings is complete. The supreme court of India earlier gave green light to the transaction and the arbitration panel was tasked to do hearing for the matter. The other joint venture partner of Bidvest, GVK has been able to satisfy all the parameters required for the grant of an interim direction in its favor resulting in restain to the transaction.
Mumbai International Airport Pvt. Ltd. (MIAL) was awarded the mandate of modernizing and upgrading Mumbai’s Chhatrapati Shivaji Maharaj International Airport (CSMIA) in February 2006. CSMIA is one of India’s busiest airports having recorded passenger traffic of 36.63 million in 2014-15, along with cargo traffic of 694,261 tonnes.
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January 15, 2020
KNR Construction sells its stake in KNR Walavar Tollways Private Limited to Cube Highways
KNR Construction has announced an agreement to sell a 100% stake in SPV KNR Walavar Tollways Private Limited to Cube Highways. KNR Walavar Tollways Private Limited operates a four-lan...
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January 14, 2020
Bengaluru to Chennai expressway to be awarded on PPP procurement
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January 13, 2020
RFEOI seeking technical consultant for Wastewater treatment plant project in Ahmedabad
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January 09, 2020
India launches new model concession for medical colleges
Niti Aayog in India has launched a public-private partnership model concession method to link new or existing private medical colleges with functional district hospitals to augment medical seats. Niti...
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January 08, 2020
Contract signature for four laning of NH-161 section from Kandi to Ramsanpalle
National Highways Authority of India (NHAI) has signed the concession agreement with Ashoka concessions for the four laning of NH-161 section from Kandi to Ramsanpalle project. The project consists of...
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