Adani to acquire 85.8% stake in Air Works for Rs 400 cr enterprise value
With operations spanning 35 cities and a workforce of over 1,300 personnel, Air Works brings extensive expertise in servicing both fixed-wing and rotary-wing aircraft
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ADSTL has signed a share purchase agreement to acquire 85.8 per cent shareholding in Air Works. | Photo: Bloomberg
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Adani Group on Monday said it will acquire aviation maintenance, repair and overhaul (MRO) services firm Air Works for an enterprise value of Rs 400 crore.
"Adani Defence Systems & Technologies Ltd (ADSTL) has signed a share purchase agreement to acquire 85.8 per cent shareholding in Air Works, India's largest private sector MRO company with the largest pan-India footprint," the conglomerate said in a statement.
With operations spanning 35 cities and a workforce of over 1,300 personnel, Air Works brings extensive expertise in servicing both fixed-wing and rotary-wing aircraft.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Dec 23 2024 | 3:50 PM IST