BSDA and ACSA sell airport stakes
The Competition Commission of India (CCI) has approved Adani Properties Private Limited’s (APPL) acquisition of shareholdings in Mumbai International Airport Limited (MIAL).
The shares were acquired from Bid Services Division (Mauritius) Limited (BSDA) and ACSA Global Limited (ACSA), under Section 31(1) of the Competition Act, 2002, said Ministry of Corporate Affairs on 14 Nov 2019.
The proposed combination relates to acquisition of 23.5% equity stake of MIAL by APPL from BSDA and ACSA.
APPL proposes to acquire 13.5% equity shares of MIAL from BSDA and 10% equity shares of MIAL from ACSA.
The acquirer i.e. APPL is a member of the Adani Group which is a diversified infrastructure conglomerate. APPL is engaged in let-out and/or leasing of immovable properties and wholesale trading of commodities.
APPL has various subsidiaries, associates and joint venture companies/ entities, which are into real estate business, financial services, generation of power using renewable sources of energy and LPG terminal setup.
MIAL, a public company registered at Mumbai, is engaged in operating, maintaining, developing, designing, constructing, upgrading, modernising, financing and managing the Chhatrapati Shivaji International Airport (CSIA) at Mumbai. Its services include activities incidental to air transportation such as operation of terminal, airway facilities, etc. fiinews.com