Abu Dhabi is reportedly close to finalising the purchase of a 49 percent stake in one of India’s busiest airports.
The sovereign wealth fund Abu Dhabi Investment Authority is competing against Paris Aeroport to acquire the minority shareholding in Hyderabad International Airport, India’s The Economic Times reported. ADIA’s talks were more advanced than those of the Paris airport authority, the newspaper said.
ADIA declined to comment when contacted by Arabian Business, however it has previously said it was interested in greater investment in emerging markets.
One of the biggest sovereign wealth funds in the world, ADIA already has direct and indirect investments in India and shares in airports globally, including Gatwick in the UK and Rome.
The highly indebted Bengaluru-based infrastructure developer GMR Group is selling the stake in the airport to help rebalance its books, The Economic Times said.
With a population for more than 1 billion, India’s aviation sector is far from reaching its potential, analysts say.
Abu Dhabi’s airline, Etihad, also has a 24 percent in Jet Airways.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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