The Adanis', which already has won the bids to run six Airport Authority-built non-metro airports in Lucknow, Jaipur, Guwahati, Ahmedabad, Thiruvananthapuram and Mangalore, bid to enter the country's second busiest airport by buying out Bid Services Division Mauritius from MIAL was stalled after GVK chose to exercise its first right of refusal, and matched the Rs 1,248-crore offer that the Adanis made to the Bidvest in March.
Adani group is in talks to acquire a 50.5 per cent stake held by GVK Group in Mumbai International Airport (MIAL) and another 23.5 per cent of minority partners, Airports Company South Africa (ACSA), and Bidvest Group, two sources with knowledge of the matter said.
What made the tide turn in favour of the Adani group was the Covid-19 pandemic, which shut down airports the world over, including Mumbai. There was no cash flow and the firm started defaulting on salaries July onwards.
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.
Strangely, a few days after filing the charges, the CBI teams arrived in Hyderabad and Mumbai to raid GVK's offices and found incriminating evidence, a reversal of the normal course of events.
India's tour of South Africa later this year will commence with the visitors playing Twenty20 and 50-over internationals against the hosts before taking them on in a three-Test series.
'I don't think Shami had any doubts that Ravi would stick by his word, but to see the head coach move heaven and earth to ensure his best interests were taken care of at a difficult time must have made a massive impact on him.' A fascinating excerpt from R Sridhar's must-read book Coaching Beyond: My Days with the Indian Cricket Team.
South Africa fast bowler Kagiso Rabada will miss this Indian Premier League season after being ruled out of actin for up to three months with a lower back stress reaction.
Long-serving Proteas all-rounder Jacques Kallis has announced that he will make a special donation to the Yuvraj Singh Foundation.
Faf du Plessis blasted the second fastest century in Twenty20 internationals but it was not enough for South Africa as West Indies produced a record chase in a run-fest to win by four wickets at The Wanderers on Sunday.
Adani group on Tuesday said it has taken over the management of Mumbai International airport from the GVK group. The group last August had announced that it would acquire GVK Group's stake in Mumbai airport. Adani group will have 74 per cent stake in Mumbai's Chhatrapati Shivaji Maharaj International Airport, post the stake purchase transaction, with 50.5 per cent being bought from GVK group and 23.5 per cent from minority partners including Airports Company South Africa (ACSA), and Bidvest Group, it had said.
The rating was downgraded despite 25 per cent held by stronger partner Indian Hotels, which operates the company's seven properties in India.
Real estate development on Mumbai airport land and the work on Navi Mumbai airport have been inordinately delayed, which have prompted rating downgrades and raised questions on its financial capabilities. It is also trying to stave off Adani group's entry as a shareholder in the Mumbai airport project.
Pakistan resumed their second innings needing a further 228 for victory with seven wickets in hand, but their chances faded when Olivier removed the dangerous Babar Azam (21) and captain Sarfraz Ahmed (0) in consecutive balls.
Here are the images of some of the shots that De Villiers played enroute his record-breaking fastest One-Day century.
Cricket South Africa did its bit to honour Nelson Mandela on Friday, naming the ongoing ODI series against India as 'dedication to late Nelson Mandela'.
South Africa took 16 Sri Lanka wickets in a little over two sessions to secure a ruthless victory by an innings and 118 runs in the third and final Test at the Wanderers on Saturday.
When South Africa's AB de Villiers scored the quickest century on Sunday, he broke more than just an ODI record. Here is how the South African has rewritten cricketing history.
