CCI okays Adani's 23.5% stake-buy in Mumbai International Airport

New Delhi: Fair trade regulator CCI on Thursday approved Adani Properties' acquisition of 23.5 per cent stake in the country's second busiest aerodrome Mumbai International Airport.

Adani Properties has acquired the shares from Mauritius based Bid Services Division and ACSA Global Ltd. As per the combination notice filed with CCI, the transaction involves acquisition of shares through two separate share purchase agreements.

While Adani is buying 13.5 per cent stake in Mumbai International Airport from Bid Services Division, the rest 10 per cent has been acquired from ACSA, as per the notice said.

In a separate tweet, CCI said it "approves merger of the BNP Paribas Mutual Fund and the Baroda Mutual Fund".

Bank of Baroda and BNP Paribas Asset Management in a joint statement in October had said they entered into binding agreements. The strategic alliance would allow both companies to leverage each other's strengths to offer products specially designed for retail and institutional clients in India, they had said.