Qatar fund in talks with Adani to invest in Mumbai airport: Report

Qatar Investment Authority is in advanced talks with Adani Airport Holdings Ltd for acquiring a minority stake in Mumbai International Airport Ltd (MIAL) that Adani acquired last month, Mint reported, citing two people in the know of the matter.

According to the report, Adani Airport is looking to raise $750 million from the stake sale. Even as the Qatar fund prefers to invest directly in the Mumbai airport operator, it may buy a stake in parent Adani Airport, a source told the publication.

DH could not independently verify this report.

Qatar's sovereign wealth fund had in February acquired 25.10 per cent stake in Adani Electricity Mumbai Ltd (AEML) from Adani Transmission. It had invested Rs 3,220 crore, which included equity consideration of approximately Rs 1,210 crore and shareholder subordinated debt of about Rs 2,000 crore.

In late-August, Adani Airports, a subsidiary of Mumbai-listed Adani Enterprises, had announced the acquisition of GVK Airport Developers Ltd's 50.50 per cent stake in the Mumbai International Airport Ltd (MIAL). It had said that it would also buyout 23.5 per cent stake of Airports Company of South Africa (ACSA) and Bidvest Group to get a 74 per cent stake in Mumbai airport.

Adani Group, an industrial conglomerate with revenues of over $15 billion, has businesses across power, gas distribution, renewable energy, logistics, ports, roads and rail.

(With agency inputs)