HBI Staff | Hyderabad 
According to NDTV, Adani Airport Holdings Ltd., a subsidiary of Adani Enterprises Ltd., has finalized plans to acquire a majority stake in Mumbai-based Semolina Kitchens Pvt., marking a strategic move into the food and beverage and lounge business.
According to an exchange filing, Adani Airport Holdings Ltd. has signed both a joint venture agreement and a share purchase agreement, securing a 50.02% stake in Semolina Kitchens Pvt. This acquisition will position Semolina as a step-down subsidiary within the Adani Group.
The financial terms of the deal have not been disclosed.
Under the agreement, Adani Airport Holdings Ltd. will hold a 50.02% stake in Semolina, while Travel Food Services Pvt. and AJ Holding Ltd. will hold 24.99% each, with proportional representation on the board.
Adani Airport Holdings Ltd. currently operates eight airports, with seven in active service. These airports collectively handle approximately 25% of passenger traffic and around 33% of cargo capacity in India.
