Adani Airport Holdings Ltd. will acquire a majority stake in Mumbai-based Semolina Kitchens Pvt. to undertake the food and beverage and lounge business.
The Adani Enterprises Ltd. arm has executed a joint venture agreement and a share purchase agreement for the acquisition of a 50.02% stake in Semolina, an exchange filing said on Thursday. Semolina will, thereby, become a step-down subsidiary of the Adani Group.
The deal value has not been disclosed.
AAHL, Travel Food Services Pvt. and AJ Holding Ltd. will hold 50.02%, 24.99% and 24.99%, respectively, of Semolina, with proportionate participation on the board.
Adani Airport currently owns eight airports, seven of which are operational, accounting for about 25% of passenger traffic and about 33% of cargo capacity.
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