Adani Airport Holdings (AAHL), a wholly owned subsidiary of Adani Enterprises, has acquired 23.5 per cent stake in Mumbai International Airport (MIAL) from ACSA Global Limited (ACSA) and Bid Services Division (Mauritius) Limited (Bidvest), for Rs 1,685.25 crore, the company said in a regulatory filing. As per the regulatory filing, AAHL has bought 28,20,00,000 equity shares in MIAL.
"We would like to inform that Adani Airport Holdings Limited (“AAHL”) the flagship holding company of Adani Group for its airports business and a Wholly Owned Subsidiary of Adani Enterprises Limited has acquired 23.5% equity stake i.e. 28,20,00,000 (Twenty Eight Crores Twenty Lakhs) Equity Shares of INR 10 (Indian Rupees Ten) of Mumbai International Airport Limited (“MIAL”) from ACSA Global Limited (”ACSA”) and Bid Services Division (Mauritius) Limited (“Bidvest”)," the company said.
In September 2020, AAHL said it was going to acquire a controlling stake in MIAL. "Adani Group will acquire GVK Airport Developers Ltd's 50.50% stake as well as buyout 23.5% stake of Airports Company of South Africa (ACSA) and Bidvest Group (for which it has obtained Competition Commission of India approval)," it had said in a regulatory filing.
In November 2020, fair trade regulator Competition Commission of India (CCI) approved Adani Properties' acquisition of 23.5 per cent stake in MIAL.
The company has committed an investment of Rs 10,000 crore for airport business by 2026. "We have committed roughly about Rs 10,000 crore investment over a period of seven years for the airports business," Jugeshinder Singh, chief financial officer of AEL had said in 2019.