Adani Properties Private Limited gets more share in Mumbai International Airport Limited

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CCI approves the acquisition of shareholdings in Mumbai International Airport Limited (“MIAL”) by Adani Properties Private Limited (“APPL”)from Bid Services Division (Mauritius) Limited (“BSDA”) and ACSA Global Limited (“ACSA”), under Section 31(1) of the Competition Act, 2002 (“Act”)

By PIB Delhi

The Competition Commission of India (CCI) approves the acquisition of shareholdings in Mumbai International Airport Limited (“MIAL”) by Adani Properties Private Limited (“APPL”)from Bid Services Division (Mauritius) Limited (“BSDA”) and ACSA Global Limited (“ACSA”), under Section 31(1) of the Competition Act, 2002 (“Act”)

The proposed combination relates to acquisition of 23.5 percent equity stake of MIAL by APPL from BSDA and ACSA. APPL proposes to acquire 13.5 percent equity shares of MIAL from BSDA and 10 percent 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.

The target i.e.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.

The Commission approved the proposed combination under Section 31(1) of the Act.

Detailed order of the CCI will follow.

About Post Author

Suman Munshi

Founder Editor of IBG NEWS (15/Mar/2012- 09/Aug/2018). Recipient of Udar Akash Rokeya Shakhawat Hossain Award 2018. National Geographic & Canon Wild Clicks 2011 jury and public poll winner. Studied Post Graduate Advance Dip in Computer Sc., MBA IT,LIMS (USA & Australia), GxP(USA & UK),BA (Sociology) Dip in Journalism (Ireland), Diploma in Vedic Astrology, Numerology, Palmistry, Vastu Shastra & Feng Sui 25 years in the digital & IT industry with Global MNCs' worked & traveled in USA, UK, Europe, Singapore, Australia, Bangladesh & many other countries. Education and Training advance management and R&D Technology from India, USA, UK, Australia. Over 30 Certification from Global leaders in R&D and Education. Computer Science Teacher, IT & LIMS expert with a wide fan following in his community. General Secretary West Bengal State Committee of All Indian Reporter’s Association
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