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Adani Group completes acquisition of Mumbai International Airport

Wednesday, 14 Jul 2021
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The Adani Group has completed the acquisition of Mumbai International Airport (MIAL) and will begin construction of the greenfield airport in Navi Mumbai by August 2021.

In August 2020, the Group announced the acquisition of Mumbai airport from the GVK group. The transaction concluded giving the Adani Group 74 percent stake in MIAL.

The Group already has six airports in their portfolio and with the addition of Mumbai airport the group will control 25 percent of passenger footfalls and 33 percent of India's air cargo.

Adani Airport Holdings will also begin construction of the Navi Mumbai International Airport in August 2021 and complete the financial closure in the next 90 days. This new international airport will be commissioned in 2024.

Under pressure from lenders the GVK Group exited the airport sector agreeing to sell its 50.5 percent stake in MIAL to Adani Group. The group also acquired 23.5 percent stake from two South African investors in February 2021.
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