CCI approves Adani's bid to acquire stake in Mumbai International Airport
Indian fair trade regulator CCI has approved Adani's bid to acquire a 23.5% stake in the Mumbai International Airport project. Adani will acquire the stake from Bidvest group (13.5%) and ACSA Global Ltd (10%). The other stakeholder in the project is GVK group (50.5%) and Airports Authority of India (26%).
Mumbai International airport concession involves works of operation, modernizing and upgrading of Chhatrapati Shivaji Maharaj International Airport (CSMIA) in Mumbai. Located in the western state of Maharashtra, 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.
The notice from CCI mentions that the stake will be acquired by two separate share-purchase agreements.
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