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.
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.
[1] Press Releae of February 2020,20th : With the acquisition of 49% of the Indian group GMR Airports, Groupe ADP creates the leading global network of airports
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