India’s Adani Group to pick 74% stake in Mumbai International Airport

India’s Gautam Adani-led Adani Enterprises is set to acquire a 74 percent stake in Mumbai International Airport (MIAL) making it the largest private airport operator after GMR Group, which operates Delhi and Hyderabad airports.

“While already owning six airports, the 15,000 crore acquisition of country’s second-largest airport will also give them ownership of the upcoming Navi Mumbai airport, in which MIAL holds 74 per cent,” reported a leading business daily.

Adani Group is expected to announce the acquisition of GVK Group's 50.5 percent stake soon, while it would also acquire 23.5 percent of minority partners, Airports Company South Africa (ACSA) and Bidvest Group which holds 10 and 13.5 percent stake in MIAL.

The union cabinet led by Indian prime minister Narendra Modi had recently approved the proposal for leasing out Jaipur, Guwahati and Thiruvananthapuram airports of Airports Authority of India (AAI) to Adani Enterprises for fifty years operation, management and development through Public-Private Partnership (PPP). The firm will soon take control of the airports in Ahmedabad, Lucknow, Mangaluru, Jaipur, Thiruvananthapuram, and Guwahati.