Adani airport business to raise $1 bln through stake sale
Indian conglomerate Adani Group said on Sept. 9 that its airport unit would raise about $1 billion selling a minority stake to a group of investors including Singapore’s Temasek and U.S. firm BlackRock.
The transaction will see investors buy a 5.54 percent stake in Adani Airport Holdings (AAHL), one of India’s largest private airport operators, giving it a “pre-money equity valuation” around $18 billion, a statement said.
The deal “represents one of the largest primary equity investments from financial institutions in India’s airport infrastructure sector,” it added.
The money raised will be used to expand and modernize airport infrastructure, while scaling other businesses like ground handling.
