GVK Group companies to raise Rs 7,614 cr to retire debt, Bidvest, ACSA stakes in Mumbai Airport
5 years, 2 months ago

GVK Group companies to raise Rs 7,614 cr to retire debt, Bidvest, ACSA stakes in Mumbai Airport

Firstpost  

GVK Reddy will continue as Executive Chairman and GV Sanjay Reddy as Managing Director in both MIAL and NMIAL Hyderabad: GVK Group companies have entered into definitive agreements with subsidiaries of the Abu Dhabi Investment Authority, Canada’s Public Sector Pension Investment Board and National Investment and Infrastructure Fund to raise Rs 7,614 crore investments into GVK Airport Holdings Limited. GVKAHL is the holding company of Mumbai International Airport Limited and engaged in the business of developing, operating and managing the Chhatrapati Shivaji Maharaj International Airport, Mumbai and development of Navi Mumbai International Airport. A GVK press release said proceeds from the transaction would be used to primarily retire debt obligations of its holding companies significantly and fund the purchase of additional shares in MIAL by GVKAHL, from Bidvest and ACSA in accordance with the Right of First Offer already exercised by GVKAHL. The GVK Group had earlier said it was determined to acquire the 13.5 percent in Mumbai International Airport Limited owned by South African firm Bid Services Division Mauritius or Bidvest.

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History of this topic

No, Mumbai Airport Wasn't 'Taken Away & Given to Adani'. A Fact-check for Rahul Gandhi by GVK Group
1 year, 11 months ago

No, Mumbai Airport Wasn't 'Taken Away & Given to Adani'. A Fact-check for Rahul Gandhi by GVK Group

News 18  

Business conglomerate GVK Group on Wednesday categorically said there was no “extraneous pressure” from anyone to sell its stake in Mumbai airport as alleged by Congress leader Rahul Gandhi. After that, India’s most strategic, profitable airport, Mumbai Airport, was taken away from GVK using agencies like the CBI, ED, and was given to Adani by the Government of India,” he …

Modi govt didn’t ‘pressure’ GVK to sell Mumbai Airport to Adani
1 year, 11 months ago

Modi govt didn’t ‘pressure’ GVK to sell Mumbai Airport to Adani

Live Mint  

The Narendra Modi administration, according to GV Sanjay Reddy, did not force GVK to hand over Mumbai Airport to the Adani Group. In July 2021, GVK handed control of the Mumbai airport over to Adani Airport Holdings Ltd. Gandhi earlier alleged that the Modi government “hijacked” “India's most profitable airport” from GVK using agencies like CBI and ED and gave …

Adani Group may bid in upcoming airport auctions
1 year, 11 months ago

Adani Group may bid in upcoming airport auctions

Live Mint  

The Adani Group may join the upcoming auction of airports in the public-private partnership model, a top executive said. The speculation is that there will be 11 airports which will be bid this time and we will look at terms and conditions of the RFQ and accordingly, we will make a decision if there is any property which is of …

Adani group to operate new Navi Mumbai International Airport
3 years, 6 months ago

Adani group to operate new Navi Mumbai International Airport

India TV News  

The Maharashtra government on Wednesday approved Adani Airport Holdings Ltd to operate the upcoming Navi Mumbai International Airport in the adjoining Thane-Raigad region, an official said here. The state cabinet presided over by Chief Minister Uddhav Thackeray gave its green signal to AAHL as the new concessionaire to the prestigious greenfield airport coming up as a public-private partnership project. With …

Adani Group Acquires 23.5 Percent Stake in Mumbai International Airport, Aims 74 Percent Stake
3 years, 11 months ago

Adani Group Acquires 23.5 Percent Stake in Mumbai International Airport, Aims 74 Percent Stake

News 18  

Adani Group’s flagship holding company Adani Airport Holdings Ltd has acquired 23.5 per cent stake in the Mumbai International Airport Ltd from ACSA Global Ltd and Bid Services Division Ltd for Rs 1,685.25 crore. “Adani Airport Holdings Ltd has acquired 23.5 per cent equity stake i.e. 28,20,00,000 equity shares of Rs 10 of Mumbai International Airport Ltd from ACSA Global …

Qatar fund in talks with Adani to invest in Mumbai airport
4 years, 3 months ago

Qatar fund in talks with Adani to invest in Mumbai airport

Live Mint  

Adani Airport Holdings Ltd is in advanced talks with Qatar Investment Authority to sell a minority stake in Mumbai International Airport Ltd that it acquired last month, two people aware of the matter said. The Qatar fund prefers to invest directly in the Mumbai airport operator, but alternatively, it may buy a stake in parent Adani Airport, the person said …

CCI Approves Adani's Acquisition of Stake for Mumbai Airport From GVK
4 years, 3 months ago

CCI Approves Adani's Acquisition of Stake for Mumbai Airport From GVK

News 18  

The Competition Commission of India has approved the Adani Airport Holdings’ acquisition of a controlling stake in the Mumbai Airport from the GVK Airport Developers Ltd. Green channel is an automatic approval system, whereby a combination is deemed to have been approved by the CCI upon receiving the filing of the notice for the combination by the parties concerned. “Commission …

Adani to acquire Mumbai airport
4 years, 4 months ago

Adani to acquire Mumbai airport

Live Mint  

Adani group will take control of India’s second-busiest airport of Mumbai, in the biggest-ever thrust to its ambition to become a top airports operator. The Adani group will also buy the combined 23.5% stake held by Airport Company of South Africa and South Africa’s Bidvest group in MIAL, for which it has obtained the approval of the Competition Commission of …

Adani Group Acquires 74 Percent Stake in Mumbai Airport, Becomes India's Largest Private Operator
4 years, 4 months ago

Adani Group Acquires 74 Percent Stake in Mumbai Airport, Becomes India's Largest Private Operator

News 18  

Billionaire Gautam Adani’s Adani Group has acquired the majority stake at the Mumbai International Airport. Adani now has 74 percent stake in the Chattarpati Shivaji Maharaj International Airport, 50.5 percent of which has been bought from its previous operator GVK Group and 23.5 percent from other minority partners including Airports Company South Africa, and Bidvest Group. This is the first …

GVK, son in CBI net for Rs 705 crore airport scandal
4 years, 6 months ago

GVK, son in CBI net for Rs 705 crore airport scandal

Deccan Chronicle  

Mumbai: The Central Bureau of Investigation on Thursday registered a case against Dr G. Venkata Krishna Reddy, chairman of the GVK Group of companies, and his son G.V. According to the First Information Report filed by the CBI, the promoters of the GVK Group allegedly under-reported the revenue earnings of MIAL by entering into contracts with related parties and meeting …

GVK Group to raise ₹7,614 crore to retire debt
5 years, 2 months ago

GVK Group to raise ₹7,614 crore to retire debt

Live Mint  

The airport arms of GVK Power and Infrastructure Lmited has signed agreements to raise an investment of ₹7,614 from Abu Dhabi Investment Authority, Canada's Public Sector Pension Investment Board,, and the government-backed National Investment & Infrastructure Fund, the company said in a statement on Sunday. "GVK Airport Developers Limited and GVK Airport Holdings Limited have entered into definitive agreements with …

GVK, the operator of Mumbai International Airport, under MCA scanner
5 years, 2 months ago

GVK, the operator of Mumbai International Airport, under MCA scanner

Live Mint  

Mumbai: The GVK Group, which is in locked in a legal battle with the Adani Group on stake sale in its flagship Mumbai International Airport, on Tuesday said it has received a notice from the corporate affairs ministry, seeking some details about the airport operator. The tussle with the Adanis has its origins in GVK not letting Bidvest sell its …

GVK to spend Rs8,500 crore on Navi Mumbai airport phase-I
5 years, 3 months ago

GVK to spend Rs8,500 crore on Navi Mumbai airport phase-I

Live Mint  

The GVK group, which is in the process of developing Navi Mumbai International Airport, will be spending Rs8,500 crore in the first phase to cater to 10 million passengers per annum, Chairman of the infra major GVK Reddy said here on Wednesday. GVK, which currently manages the Mumbai International Airport through its subsidiary GVK Airport Developers, said Yes Bank would …

Mumbai airport stake: Adanis move Bombay HC against GVK bid to stall its deal
5 years, 4 months ago

Mumbai airport stake: Adanis move Bombay HC against GVK bid to stall its deal

India Today  

Gautam Adani-led Adani Group has dragged the shareholders of the GVK Group-run Mumbai airport and the aviation ministry to the Bombay High Court, seeking a direction to them to allow buying out the minority stake held by South African firm Bidvest in the airport. The South African firm Bid Services Division Mauritius or Bidvest owns 13.5 per cent in the …

Blow to GVK as HC allows Bidvest to sell Mumbai airport stake to a third party
5 years, 6 months ago

Blow to GVK as HC allows Bidvest to sell Mumbai airport stake to a third party

Live Mint  

New Delhi: The Delhi high court on Monday dismissed a plea to bar South Africa’s Bidvest Group Ltd from selling its stake in Mumbai International Airport Ltd to a third party, upsetting airport operator GVK Power and Infrastructure Ltd’s plan to strengthen its defences against a hostile bid. The court order allowed Bid Services Division Ltd, a unit of the …

Tatas enter airports business, buy stake in GMR unit
5 years, 9 months ago

Tatas enter airports business, buy stake in GMR unit

Live Mint  

A consortium of Tata Group, a unit of Singapore’s sovereign wealth fund GIC and SSG Capital Management will invest ₹8,000 crore to buy a stake in GMR Airports Ltd, which runs India’s biggest airport. The deal will pump ₹1,000 crore into GMR Airports, a unit of GMR Infrastructure Ltd. and purchase ₹7,000 crore of the airport unit’s equity shares from …

GVK seeks shareholders’ nod to raise ₹8,000 crore to retire debt
6 years, 2 months ago

GVK seeks shareholders’ nod to raise ₹8,000 crore to retire debt

Live Mint  

Hyderabad: GVK Power and Infrastructure Limited Wednesday sought approval to raise up to ₹ 8,000 crore from shareholders and an appropriate resolution was moved in the annual general meeting held here. The company also sought approval from shareholders to dilute over 50% of equity stake, in GVK Airport Holdings Limited, a step-down subsidiary of the company through an initial public …

AviAlliance, AMP Capital join race for Mumbai airport stake
6 years, 2 months ago

AviAlliance, AMP Capital join race for Mumbai airport stake

Live Mint  

Mumbai: German airport operator AviAlliance, Australia’s AMP Capital and US-based Global Infrastructure Partners have submitted non-binding bids to buy a minority stake in Mumbai International Airport Ltd, two people aware of the development said. “The GVK group is looking to raise around ₹ 6,000 crore and is willing to offload up to 50.5% of its stake in Mumbai airport,” said …

Mumbai airport stake sale said to attract Changi, 3 others
6 years, 4 months ago

Mumbai airport stake sale said to attract Changi, 3 others

Live Mint  

Mumbai: GVK Group is in talks with at least four companies to sell a significant minority stake in Mumbai International Airport Pvt. Four of the potential bidders, namely Singapore’s Changi Airport, German airport operator AviAlliance, India’s sovereign wealth fund National Investment and Infrastructure Fund and Abu Dhabi Investment Authority are in advanced negotiations to buy a stake in Mumbai airport, …

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