Adani Group to acquire Air Works for enterprise value of Rs 400 cr

New Delhi, Dec 23 (PTI) Adani Group on Monday said it will acquire aviation maintenance, repair and overhaul (MRO) services firm Air Works for an enterprise value of Rs 400 crore.

“Adani Defence Systems & Technologies Ltd (ADSTL) has signed a share purchase agreement to acquire 85.8 per cent shareholding in Air Works, India’s largest private sector MRO company with the largest pan-India footprint,” the conglomerate said in a statement.

With operations spanning 35 cities and a workforce of over 1,300 personnel, Air Works brings extensive expertise in servicing both fixed-wing and rotary-wing aircraft.