Bidvest is set to sell its 13.5% stake in Mumbai International Airport after the ruling of Delhi High Court on July 1. Bidvest holds a stake in consortium Mumbai International Airport Limited (MIAL) that is responsible for operation and maintenance of Mumbai international airport. This could pave the way for Adani Group to enter into Mumbai Airport concession.

In February 2019 Adani has made a formal offer to buy-out 23.5% stake in MIAL, out of which Bidvest holds 13.5%, Airports Company South Africa (ACSA) holds 10% and Airports Authority of India (AAI) - 26%. 

The majority stake-holder (50.5%) GVK holdings moved to court after Bidvest decided to sell its stake. GVK has executed its right to the first refusal and sought more time to buyout Bidvest's stake. But GVK failed to do so in a mandatory 30-day period. The court concluded that GVK has failed to show capital to make the purchase.

In court, AZB partners represented Bidvest while ACSA Global represented by Vaish & Associates.

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.