Adani to acquire 85.8% stake in Air Works for Rs 400 crore
New Delhi: The Adani Group announced on Monday its plan to acquire aviation maintenance, repair, and overhaul (MRO) firm Air Works for an enterprise value of Rs 400 crore, media reports said.
"Adani Defence Systems & Technologies Ltd (ADSTL) has signed a share purchase agreement to acquire 85.8 percent shareholding in Air Works, India's largest private sector MRO company with the largest pan-India footprint," the company stated, reported PTI.
Air Works operates across 35 cities with a team of over 1,300 personnel, offering significant expertise in maintaining fixed-wing and rotary-wing aircraft.
The company caters to both Indian and international clients, maintaining a robust presence in civil aviation and demonstrating significant expertise in defence MRO. It has obtained regulatory approvals from more than 20 countries and completed projects for the Indian Navy and Air Force.
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