Adani Airport Holdings Ltd (AAHL) is in advanced talks to raise $750 million (Rs 5,480 crore) from Qatar Investment Authority (QIA) against a minority stake in Mumbai International Airport Ltd (MIAL) that it acquired last month, two people aware of the matter told Mint.
Already, the sovereign wealth fund of Qatar is an investor in a division of Adani Transmission that distributes power to three million customers in Mumbai. The fund invested Rs 3,220 crore ($452 million) for a 25.1% stake in February 2020.
Meanwhile, the Canada Pension Plan Investment Board (CPPIB), Canadian investment firm Brookfield Asset Management and emerging markets-focussed private equity fund Actis have submitted binding offers to buy SoftBank’s 80% stake in green energy joint venture SBG Cleantech to provide the Japanese investor an exit, people aware of the matter told The Economic Times.
Early this year it was reported that SoftBank was looking for a buyer.
SoftBank is expected to shortlist one bidder this week. However, CPPIB’s up to $650 million (Rs 4,750 crore) offer is expected to be the most aggressive, said the people mentioned above. Most of the bids are believed to be below $700 million book value, a far cry from the original ask of $1.2 billion, they added.
SoftBank and partner Bharti Enterprises have invested about $750 million in equity financing, with about $110 million coming from the latter.
In another development, TPG and Temasek-backed Manipal Health Enterprises are in advanced talks to acquire Indian operations of the Columbia Asia hospital chain from US-based Columbia Pacific Management, for about Rs 1,600 crore ($220 million), people close to the matter told The Economic Times.
If the deal goes through, Columbia Asia will be rebranded as Manipal Hospitals. A couple of years back, Manipal tried to buy Fortis and Medanta, but the deals did not materialise.