Adani completed the acquisition of 23.5% stake in Mumbai International Airport form Bidvest and Airport Company of South Africa for $470m.

Adani, an international trading house, completed the acquisition of 23.5% stake in Mumbai International Airport form Bidvest, a business-to-business services, trading and distribution group, and Airport Company of South Africa, an airports operator, for $470m. “We see our airport portfolio as a critical level to help converge tier-I cities with tier-II and tier-III ones, in a hub and spoke model,” Gautam Adani, Adani Group Chairman.