Thursday, August 27, 2020

GVK asks CIDCO for time to prove financial capability to build Navi Mumbai Airport

In midst of deal talks between GVK, Adani group, and other partners of MIAL(Mumbai International Airport Ltd) for a stake sale, GVK has asked CIDCO for time to furnish details proving its financial capability to build Navi Mumbai Airport.

This after CIDCO had asked GVK to furnish bank account details. CIDCO has also asked GVK to also inform them about any possible changes in the shareholding pattern in MIAL. GVK currently has a 51% stake in MIAL, and the rest is held by Bidvest, ACSA, and Airport Authority of India (AAI). ET NOW's Uttkarsh Chaturvedi brings more details on this story.
27/08/20 Uttkarsh Chaturvedi/TimesNowNews
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