On July 26, 2019, CCI approved the acquisition of shares of Mumbai International Airport Limited ('MIAL') by GVK Airport Holdings Limited ('GVK') increasing GVK's stake in MIAL from 50.5% to 60.5%. 1
GVK is an affiliate of the GVK group, which is a leading Indian conglomerate with diversified interests across various sectors including energy and resources, transportation, hospitality, and life sciences. MIAL is a subsidiary of GVK and operates an airport in Mumbai, India (i.e., the Chatrapati Shivaji International Airport ('CSIA') and provides airport services at CSIA, including services and activities incidental to air transportation such as operation of terminal facilities, airport activities, ground services activities at airside and cargo handling services.
CCI approved the combination since it observed that the combination merely involves an increase in existing shareholding, it will not result in any change in the competitive landscape.
Footnote
1 Combination Registration No. C-2019/06/667.
Published Date: September 21, 2019
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.