Mumbai: Spanish conglomerate Ferrovial, sovereign wealth fund Abu Dhabi Investment Authority (ADIA) and Canadian pension fund PSP have submitted final bids for investing in GVK Power and Infra’s airport holding company, said several people with knowledge of the matter. The holdco, GVK Airport Developers, has a near majority stake in the consortium that’s running Mumbai airport and is building a second one in Navi Mumbai for about Rs 16,000 crore.
“Ferrovial and PSP had been shortlisted in November. But after due diligence, all three (including ADIA) have submitted final bids,” said one of the people.
Some of the bidders — it’s not clear which ones — are also suitors for stakes held by South African firms Bidvest and Airports Company South Africa (ACSA) in the consortium Mumbai International Airport (MIAL). Both want to exit the consortium, according to people aware of the matter.
GVK Airport Developers owns 50.5% of MIAL, Bidvest holds 13.5% and ACSA owns 10%. The Airports Authority of India (AAI) owns the remaining 26%.
MIAL, in turn, owns 74% of the planned Navi Mumbai International Airport Ltd, while the rest is held by local nodal body City and Industrial Development Corp (Cidco).
“While it is public knowledge that GVK is planning to divest a minority stake in the airport holding company, regret we will not comment on any speculative queries please,” said a GVK spokesman.
19/02/19 Anirban Chowdhury/Economic Times
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“Ferrovial and PSP had been shortlisted in November. But after due diligence, all three (including ADIA) have submitted final bids,” said one of the people.
Some of the bidders — it’s not clear which ones — are also suitors for stakes held by South African firms Bidvest and Airports Company South Africa (ACSA) in the consortium Mumbai International Airport (MIAL). Both want to exit the consortium, according to people aware of the matter.
GVK Airport Developers owns 50.5% of MIAL, Bidvest holds 13.5% and ACSA owns 10%. The Airports Authority of India (AAI) owns the remaining 26%.
MIAL, in turn, owns 74% of the planned Navi Mumbai International Airport Ltd, while the rest is held by local nodal body City and Industrial Development Corp (Cidco).
“While it is public knowledge that GVK is planning to divest a minority stake in the airport holding company, regret we will not comment on any speculative queries please,” said a GVK spokesman.
19/02/19 Anirban Chowdhury/Economic Times
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