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Adani Group might bid for airports through MIAL: Report

The Adani Group has already won the bids to manage six airports through the public private partnership (PPP) model.

February 26, 2021 / 11:46 AM IST
Chairman of Adani Group Gautam Adani. (Image: Reuters)

Chairman of Adani Group Gautam Adani. (Image: Reuters)

 
 
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Adani Group might make Mumbai International Airport Ltd (MIAL) its primary vehicle for acquiring airports.

The group has appointed Prakash Tulsiani, former chief executive officer (CEO) of logistics company Allcargo Logistics, as CEO of MIAL, replacing Rajeev Jain, Business Standard reported.

The Gautam Adani-led conglomerate has begun moving the headquarters of its airport business to Mumbai from Ahmedabad, the report said.

Moneycontrol could not independently verify the story.

The Airport Authority of India (AAI) is working on the next round of privatisation in which 6-10 airports will be included, the Ministry of Civil Aviation said on February 9.

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The Adani Group has already  won the bids to manage six airports - Ahmedabad, Jaipur, Lucknow, Guwahati, Thiruvananthapuram and Mangaluru - through the public private partnership (PPP) model.

AAI owns a 26 percent stake in MIAL, which manages Mumbai's Chhatrapati Shivaji Maharaj International Airport.

In August 2020, Adani Airport Holdings Limited (AAHL), said it would take on current owner GVK Airport Developers' debt (pledged against a 50.5 percent stake), and also acquire Bidvest and Airports Company of South Africa's stakes in MIAL.

The transaction is set to give Adani Group a controlling interest of 74 percent in MIAL.

AAHL, a unit of Adani Enterprises, recently acquired a 23.5 percent stake in MIAL from ACSA Global Limited (ACSA) and Bid Services Division (Mauritius).
Moneycontrol News
first published: Feb 26, 2021 11:46 am

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