Protracted litigation has hit our India exit: Bid Services\' Rory Mackey

Protracted litigation has hit our India exit: Bid Services' Rory Mackey

In a Q&A, Rory Mackey, says India's long-drawn litigious process could impact one of its key infra assets and doesn't set a good precedent for the country as the preferred FDI

Topics
Foreign direct investment | FDI | Mial

Dev Chatterjee  |  Mumbai 

South Africa's Bidvest, which decided to sell its stake in Mumbai International Airport Ltd (MIAL) 18 months ago, has not been able to close the transaction due to litigation by partner GVK on right of first refusal (RoFR). Rory Mackey, director of Bid Services Division Mauritius, a Bidvest investment arm, tells Dev Chatterjee from Johannesburg, that this long-drawn litigious process doesn’t set a good precedent for the country as a preferred FDI (foreign direct investment) destination.

Edited excerpts: You have been trying to sell stake in MIAL for some time. But the ...
First Published: Sun, June 28 2020. 12:12 IST