The acquisition of Air Works MRO by Adani Group has been delayed due to the liquidation of a major shareholder in the target company.
Adani
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The Adani Group has made a non-binding offer of 462 crore to purchase Air Works, one of India’s oldest maintenance and repair companies for aircraft.
Reliance Group’s Asteria Aerospace designs and develops drone-based solutions to change enterprise operations using aerial data. It develops customized drone solutions operating in-house hardware design, software development, and manufacturing capabilities.
The Adani Group, which handles seven airports in the country, is looking to invest in Mumbai-based Air Works Group, a 71-year-old firm that is India’s biggest independent aircraft maintenance, repair, and overhaul (MRO) organization.
Adani Group’s Ahmedabad airport has finished recarpeting work on its 3.5-km-long runway in a world-record span of 75 days.