M&A

M&A

Adani Group arm to acquire remaining 44.6% stake in flight training firm FSSPL

Business Line  

Ahmedabad-based Adani Defence Systems & Technologies, a wholly owned subsidiary of Adani Enterprise, is set to acquire the remaining 44.6% stake in Gurugram-based Flight Simulation Solutions Pvt Ltd (FSSPL) . increasing its holding from 55.4% to 100% through a cash consideration. Post transaction, FSSPL will become a wholly owned subsidiary of Adani Defence Systems & Technologies. The acquisition, based on an enterprise value of INR 820 crore for the subsidiary, Flight Simulation Technique Centre (FSTC), is expected to be completed within two months.FSSPL and its subsidiaries provide integrated flight training services to airline pilots. Its arm, FSTC, is a pilot training organisation approved by the Directorate General of Civil Aviation and the European Union Aviation Safety Agency.