The Adani Group on Tuesday completed the acquisition of Mumbai Airport. The Adani Group company will hold 74% in Mumbai International Airport Limited, the company that runs the Mumbai airport.
GVK Group, the former owner of Mumbai Airport, has exited from Mumbai International Airport. Adani Airport Holdings, a subsidiary of Adani Enterprises, has acquired the entire 50.5% stake in GVK Group and 23.5% stake in the other two foreign companies. The remaining 26% stake will be with the Airport Authority of India.
Mumbai airport is the second busiest airport in the country. About one-third of India's air traffic takes place here. In a statement issued by Adani Airport Holdings Limited (AAHL), it has been said that now this airport will also control 33% of air cargo traffic of the country.
Commenting on the development, Gautam Adani tweeted saying, "Very happy to take over the management of world-class Mumbai International Airport. We promise that Mumbai will be proud of the new management. Adani Group will make Mumbai airport more comfortable. We will also write a new story on the entertainment front. Also, try to do better business. Our entire focus is on creating thousands of new jobs.
Adani Group is a coal trading, coal mining, and power producer company. Its headquarter is in Mumbai. Gautam Adani is the founder of Adani Group. According to Forbes Magazine, Gautam Adani, chairman of the Adani Group, owns a net worth of $10 billion and is one of the billionaires of Ahmedabad.
Adani Group is one of the largest export companies in the country. Gautam Adani was born in a lower-middle-class family in Ahmedabad and had seven siblings. The question of livelihood came before writing studies. The result was that after college, he took admission in B.Com in Gujarat University, but studies could not progress further. At the age of 18, he fled to Mumbai to earn money and got a job in a diamond company for three-four hundred rupees. After working there for two years, Gautam Adani opened his own diamond brokerage outfit in Jhaveri Bazar. From here his life started to turn.
In 1981, Adani's elder brother Mansukhbhai set up a unit of Platik in Ahmedabad and he asked Gautam to run the company. After this, he took over the PVC unit of his elder brother and gradually took the business forward. In 1988, he founded Adani Enterprises, an export-import company. Today Adani Group's business is spread across the world. Adani's wife's name is Preeti, who is a dentist by profession and heads the Adani Foundation. Adani has two sons – Karan and Jeet. Not only this, Adani has two private jets, in which he bought Beachcroft jet in 2005 and Hawker in 2008.
Adani Group has become the largest airport operator in the country. Now he has command of 7 airports in the country. Adani has 6 other major airports apart from Mumbai airport, which include Ahmedabad, Lucknow, Jaipur, Mangaluru, Guwahati, and Thiruvananthapuram airports. Their management is with the Adani Group. After winning the bidding in 2019, the group has the responsibility of operating these airports for the next 50 years.
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