Three non-binding bids submitted for Mumbai airport stake

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Indian conglomerate GVK has reportedly received three non-binding bids for a portion of its 50.5% stake in Mumbai International Airport Ltd (MIAL), the operator of the primary international airport serving the Mumbai Metropolitan Area in India under a 30-year concession.

The bidders are German airport operator AviAlliance, Australian investment manager AMP Capital and American infrastructure investor Global Infrastructure Partners (GIP). Subject to ongoing discussions, the three bidders are expected to submit binding offers in the coming weeks.

GVK is reportedly looking to raise around INR60 billion (~US$820 million) from the sale. 

MIAL’s other shareholders are South Africa’s Bidvest Group (13.5%), Airports Co South Africa Ltd (10%) and state-run Airports Authority of India (26%).

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