<p>Billionaire Gautam Adani's Adani Group on Monday said it has reached an agreement to acquire GVK Group's shareholding and control of Mumbai airport.</p>.<p>Adani Airport Holdings has "entered into an agreement to acquire the debt of GVK Airport Developers," Adani Enterprise said in a regulatory filing.</p>.<p>GVK Group holds 50.50 percent equity stake in Mumbai International Airport Limited (MIAL). The debt will be converted into equity.</p>.<p>The two firms did not give further financial details of the deal.</p>.<p>"The Adani Group will also take steps to complete the acquisition of a 23.5 percent equity stake from ACSA (Airports Company of South Africa) and Bidvest in MIAL for which it has obtained Competition Commission of India’s approval," it added.</p>.<p>Together with 50.50 percent stake of GVK, Adani's total holding in Mumbai airport will be 74 percent after completion of the transaction.</p>
<p>Billionaire Gautam Adani's Adani Group on Monday said it has reached an agreement to acquire GVK Group's shareholding and control of Mumbai airport.</p>.<p>Adani Airport Holdings has "entered into an agreement to acquire the debt of GVK Airport Developers," Adani Enterprise said in a regulatory filing.</p>.<p>GVK Group holds 50.50 percent equity stake in Mumbai International Airport Limited (MIAL). The debt will be converted into equity.</p>.<p>The two firms did not give further financial details of the deal.</p>.<p>"The Adani Group will also take steps to complete the acquisition of a 23.5 percent equity stake from ACSA (Airports Company of South Africa) and Bidvest in MIAL for which it has obtained Competition Commission of India’s approval," it added.</p>.<p>Together with 50.50 percent stake of GVK, Adani's total holding in Mumbai airport will be 74 percent after completion of the transaction.</p>