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Battle for MIAL: Foreign investors serve legal notice on GVK group

Call Mumbai airport stake sale to Adani a breach of agreement

mumbai airport, CSIA, MIAL, T2
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Adani is in talks with GVK promoters (the Reddy family) and two minority investors to buy 74 per cent stake in MIAL

Arindam MajumderAneesh Phadnis New Delhi/ Mumbai
A consortium of foreign investors — led by UAE’s sovereign fund Abu Dhabi Investment Authority (ADIA), India’s sovereign fund NIIF, and Canada’s Public Sector Pension (PSP) Investments — has served legal notice on the GVK group, saying the stake sale in Mumbai International Airport (MIAL) to the Adani group would be a breach of the agreement they had signed last year.

Adani is in talks with GVK promoters (the Reddy family) and two minority investors to buy 74 per cent stake in MIAL.

The consortium had signed a binding deal with the GVK group in October 2019 to acquire a

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