Deal at enterprise value of Rs 400 crore; acquisition enhances Adani’s capabilities in defence MRO sector.

Adani Defence Systems & Technologies (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. ” Air Works offers an end-to-end bouquet of aviation services spanning line maintenance, heavy checks, interior refurbishment, painting, redelivery checks, avionics as well as asset management services to its Indian and global customers,” says an official release from Adani Defence. “The company undertakes base maintenance for narrow-body and turboprop aircraft as well as rotary aircraft from its facilities at Hosur, Mumbai and Kochi, and with regulatory approvals from civil aviation authorities of more than 20 countries.”