Adani Enterprises’ arm to acquire debt of GVK Airport Developers
31st Aug 2020

Adani Enterprises’ wholly-owned Subsidiary (WOS) -- Adani Airport Holdings (AAHL) has entered into an agreement to acquire the debt of GVK Airport Developers (GVK ADL). GVK ADL is the holding company through which GVK Group holds 50.50% equity stake in Mumbai International Airport (MIAL), which in turns holds 74% equity stake in Navi Mumbai International Airport (NMIAL).

The GVK Group and AAHL have agreed that AAHL will offer a stand-still to GVK, in addition, to release of the guarantee given by GVK Power and Infrastructure with respect to the debt acquired by it.

Adani Enterprises is an infrastructure company. The company is engaged in coal trading, coal mining, oil and gas exploration, ports, multimodal logistics, power generation and transmission, and gas distribution.