ACSA sells stake in major Indian airport
South Africa’s State-owned Airports Company South Africa (ACSA) announced on Monday that it had sold its stake in Indian company Mumbai International Airport Private Limited (MIAL). This enterprise manages and operates Mumbai’s Chhatrapati Shivaji Maharaj International Airport.
ACSA’s shareholding amounted to 10% of MIAL. The sale brought ACSA an income (net of the relevant taxes) of 6 164 779 140 Indian rupees (or just over R1.26-billion). In its brief statement, the South African company gave no reason for the sale.
ACSA has held a shareholding in MIAL since the consortium, led by Indian conglomerate GVK, was created. Bidvest was also a member of the consortium.
In January 2006, MIAL won the tender to take over the airport. The Airports Authority of India retained a 26% share in the operation.
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