Adani Group’s acquisition of Air Works MRO delayed

The acquisition of India’s Air Works MRO by Adani Group has been delayed due to the liquidation of a major shareholder in the target company. An MoU was signed between the Adani Group and Air Works to finalize the acquisition deal for INR 4bn in October 2022, but that MoU has has already expired twice, and the latest deadline for the deal’s closure was set in Q4 of FY23. According to sources, the Adani Group’s acquisition of Air Works MRO has not been finalized due to the liquidation of one of the company’s major shareholders, Punj Lloyd Group, which holds