Tuesday, August 28, 2018

GVK could sell a significant minority stake in Mumbai airport; Bidvest Group looks to exit investment

The GVK Group is reportedly in discussions to sell a significant minority stake in Mumbai International Airport Pvt. Ltd (MIAL). Parallelly, South Africa’s Bidvest Group, which holds a roughly 13.5 percent stake in MIAL, is reportedly looking to exit its investment.

GVK has initiated discussions with airport operators and with sovereign wealth funds – the firm is negotiating with Singapore’s Changi Airport, German airport operator AviAlliance, India’s sovereign wealth fund National Investment and Infrastructure Fund (NIIF) and the Abu Dhabi Investment Authority (ADIA), reported the Mint.

Bidders are expected to table non-binding offers by 10 September. Citigroup is managing the transaction, the Mint report said.
On the other hand, private equity firms Blackstone, TPG, Brookfield, the Canada Pension Plan Investment Board (CPPIB), the Changi Airport Group and Dubai Airports are in the fray to acquire Bidvest's stake in MIAL. NM Rothschild is running the mandate, reported The Economic Times (ET).
27/08/18 First Post