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ADIA eyes acquiring stake in Indian GVK

ADIA eyes acquiring stake in Indian GVK
GVK owns a 50.5% stake of Mumbai International Airport (MIAL)

Abu Dhabi – Mubasher: Abu Dhabi Investment Authority (ADIA) is in talks to acquire a stake in India’s GVK Airport Holding Company.

Spanish conglomerate Ferrovial and Canadian pension fund have also submitted final bids to invest in the Indian company running Mumbai airport and is building a second one in Navi Mumbai, the Economic Times reported, citing people familiar with the matter.

It is worth noting that GVK owns a 50.5% stake of Mumbai International Airport (MIAL), while Bidvest, ACSA and the Airports Authority of India (AAI) hold 13.5%, 10%, and 26%, respectively. 

The sector awaits the details of the deal and the quantum of investment allowing GVK to come out of its troubles.

“Ferrovial and PSP had been shortlisted in November. But after due diligence, all three (including ADIA) have submitted final bids,” one of the people said.