Global investors Abu Dhabi Investment Authority and Canada’s Public Sector Pension Investments have approached the Government of India for a fair and transparent solution to the takeover controversy surrounding the Mumbai International Airport Limited, the crown jewel of GVK group.
Letters were sent to the Ministry of Finance and the Prime Minister’s Office after an investor consortium allowed Reddy family, promoters of GVK group to talk to third parties, namely Adani group to explore a deal even though they have deal exclusivity till January 31, 2021.
Speculation is wide that Gautam Adani is all set to acquire controlling interest in Mumbai airport, which is India’s second busiest one. If negotiations between GVK and Adani group bear fruit then it would supersede an earlier deal from last October in which National Investment and Infrastructure Fund (NIIF), ADIA and PSP Investments had agreed to buy a majority stake in the operating company running Mumbai Airport.
The matter has been caught up in legal proceedings since then.
