CCI approves Adani's acquisition of Mumbai Airport from GVK
The Competition Commission of India (CCI), under the green channel route has approved Adani Group's proposed acquisition of controlling stake in Mumbai airport from GVK Airport Developers.The green channel route provides for automatic approval of certain deals subject to various conditions, including absence of horizontal overlaps and existing or potential vertical relationships.The CCI...
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The Competition Commission of India (CCI), under the green channel route has approved Adani Group's proposed acquisition of controlling stake in Mumbai airport from GVK Airport Developers.
The green channel route provides for automatic approval of certain deals subject to various conditions, including absence of horizontal overlaps and existing or potential vertical relationships.
The CCI tweeted, "Commission received Green Channel combination pertaining to acquisition of GVK Airport Developers Ltd by Adani Airport Holdings Ltd. This is the 17th Green Channel filing."
In August, it was announced that Adani Group will acquire GVK Airport Developers Ltd's (GVKADL) 50.50% stake as well as buy out the 23.5% stake of Airports Company of South Africa (ACSA) and Bidvest Group.
As per a notice filed with the CCI, the acquirer (Adani Group) proposes to acquire sole control of GVKADL through one or more steps, which will involve purchase of all external debt of the company, conversion of the said debt to equity and purchase of its balance shares.
In the notice, Adani Airport Holdings said there is no overlap in the relevant geographic market and there are also no vertical or complementary linkages between the activities of the group and GVKADL in India.
