International

Groupe ADP performs the first step to acquire a 49% stake in GMR Airports, Indian airport operator

Groupe ADP has realized the first step of the operation started by the signing, on 20 February 2020, of the agreement regarding the acquisition, under certain conditions, of a 49% stake in GMR Airports (see the press release published on the same day [1]). Groupe ADP now holds 24.99% of GMR Airports, joins therefore the Board of directors of this company and has highly extended governance rights from today.

As a reminder, the operation has to be performed in two phases: a first phase for the acquisition of a 24.99% stake, and a second phase, subject to certain regulatory conditions, for 24.01%, which should occur in the upcoming months.

Once the second phase complete, GMR Airports will be jointly owned with GMR Infrastructure Limited ("GIL"), the listed entity of GMR Group, which will keep a 51% stake and retain control over the company.

 

 

 

 

 

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