CURRENT AFFAIRS

Detailed explanation-1: -UPSC Mains. Q. Which company has purchased 74% stake in Mumbai International Airports Limited (MIAL)? Notes: 74 % stake in Mumbai International Airport Limited (MIAL) has been acquired by the Multinational conglomerate company, Adani Group.

Detailed explanation-2: -Adani Group will have 74 per cent stake in Mumbai’s Chhatrapati Shivaji Maharaj International Airport, post the stake purchase transaction, with 50.5 per cent being bought from GVK Group and 23.5 per cent from minority partners including Airports Company South Africa (ACSA), and Bidvest Group, it had said.

Detailed explanation-3: -A controlling 74% stake in Mumbai International Airport Ltd (MIAL), together with the six non-metro airports, will make Adani Group the largest private operator of airports in India.

Detailed explanation-4: -Adani Airport Holdings Ltd (AAHL), a wholly owned subsidiary of Adani Enterprises Ltd, has taken over the management control of Mumbai International Airport Limited (MIAL) the GVK Group led consortium that operated the Mumbai airport and controlled the Rs 16, 000 crore project to make a second airport in the city.

Detailed explanation-5: -Out of these, seven airports are managed by Adani Enterprises Limited (AEL). These include Mumbai, Ahmedabad, Jaipur, Lucknow, Guwahati, Thiruvananthapuram and Mangaluru.