Mumbai
In the last few months, Indian billionaire Gautam Adani has been surrounded by controversies due to alleged allegations made in America, but even in the meanwhile his focus remained on expanding his business. Now in the last month of the year, a big deal has been made by Adani Group. Under this, Adani Defense Systems and Technologies Limited has purchased majority stake in Air Works India.
The deal has been done for Rs 400 crores
The Air Works company that Gautam Adani has acquired is India’s leading private aircraft maintenance company. This acquisition has been done by Adani Group company Adani Defense System and Technologies Limited (ADSTL) and with this the company’s entry has become Adani’s entry in the aircraft maintenance and overhaul (MRO) industry. According to the press release issued by Adani Group, this entire deal has been done for Rs 400 crore.
Bought more than 85% stake in the company
Through this deal of Rs 400 crore, Adani Defense Systems and Technologies Limited has purchased 85.8 percent stake in Air Works and signed agreements. In this regard, information has been given by issuing a statement from Adani Group. It said that ADSTL has signed an agreement to acquire majority stake in the country’s largest private MRO company Air Works.
The company provides services to big airlines
Air Works India was established in the year 1951 and it provides services to the leading airlines of the country. Its customer list includes names like IndiGo and Vistara. Apart from this, international airlines like Lufthansa, Turkish Airlines and Etihad also take services from it. Along with this, Air Works also takes care of the aircraft of the Indian Navy and Air Force.
This is Adani’s net worth
Gautam Adani, who was once among the top-3 rich in the world, has 10 companies listed in the stock market and his business extends from home kitchen to airports. If we talk about wealth, then Adani’s net worth (Gautam Adani Net Worth) according to Bloomberg Billionaires Index is 75 billion dollars and with this figure, he is at 19th position in the list of world’s top billionaires. His wealth has increased by $249 million in the last 24 hours.
