The GVK Group has received bids from three agencies – German airport operator AviAlliance, Australia’s AMP Capital and US-based Global Infrastructure Partners (GIP) – for purchasing part of GVK’s share in Mumbai airport. The GVK Group currently holds a 50.5 per cent stake in the airport of which it wants to sell some to raise cash for developing the second airport in Maharashtra at Navi Mumbai. The other stakeholders in the airport are South Africa’s Bidvest Group (13.5 per cent), Airports Company South Africa (10 per cent) and AAI (26 per cent). Meanwhile, the Bidvest Group is expected to sell its entire stake in the airport to the bidder that will be selected for purchasing GVK’s stake. With regard to this, Bidvest has appointed investment bank Rothschild to begin the sale process, but is expected to wait till GVK’s stake sale is finalised.
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