Adanis eye stake in Mumbai airport; group stocks rise up to 5%

An ET report said that the group has made a formal offer to buy out the 23.5 per cent held by two South African firms in Mumbai airport.

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Adani Group has a presence in ports and real estate businesses and is now expanding into roads, waterways and airports.
NEW DELHI: Shares of Adani group of companies were trading with gains in Friday's session.

An ET report said that the group has made a formal offer to buy out the 23.5 per cent held by two South African firms in Mumbai airport, setting the stage for a battle with the GVK Group which has also shown interest in increasing its stake.

The Adani Group has sought to buy the stakes of Airports Company South Africa (ACSA) and Bidvest, the joint venture partners of GVK in the Mumbai International Airport Ltd (MIAL), at a valuation of Rs 9,500 crore


Adani Group has a presence in ports and real estate businesses and is now expanding into roads, waterways and airports.

The group has also bid for six airport projects — Ahmedabad, Guwahati, Mangalore, Jaipur, Thiruvananthapuram, Lucknow. Bids are to open on Monday.

Shares of Adani Green Energy (up 5.02 per cent), Adani Gas (up 2.34 per cent), Adani Enterprises (up 3.09 per cent), Adani Transmission (up 1.70 per cent), Adani Power (up 0.51 per cent) and Adani Ports and Special Economic Zone (up 0.15 per cent) were up in that order around 10:55 am.
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