ADP acquisition of GMR Airports stake : French airport operator Aéroports de Paris (Groupe ADP) has agreed to acquire a 49% stake in Indian airport developer GMR Airports from the GMR Group for Rs107.8 billion (€1.36 billion).

Groupe ADP, which aims to create a major global network of airports through the deal, will execute it in two phases. First, it will buy a 24.99% stake, which will be closed in the coming days.

In the second phase, the French airport operator will acquire the remainder 24.01%, which will be subject to certain regulatory conditions, including receipt of the customary regulatory approvals from the Reserve Bank of India and others.

The second phase is likely to be concluded in the upcoming months.

Augustin de Romanet – Chairman and CEO of Groupe ADP, commenting on ADP acquisition of GMR Airports stake, said: “The acquisition of a 49% stake in GMR Airports fits within Groupe ADP’s strategy. We share with the GMR family a long term vision and a partnership culture.

“This acquisition comes with a robust industrial partnership and enables Groupe ADP to build, only two years after taking control of TAV Airports, a unique worldwide network of airports with a solid industrial expertise and strong development capacities. Medium and long term growth driver, this acquisition is a transforming position for the group in one of Asia’s most dynamic and promising countries.”

Following the completion of the two phases, GMR Airports will be owned jointly with GMR Infrastructure Limited (GIL), a GMR Group company holding a 51% controlling stake, while Groupe ADP will be given highly extended governance rights.

Commenting on ADP acquisition of GMR Airports stake, GM Rao – Chairman of GMR Group said: “The partnership with Groupe ADP is in line with GMR’s business direction to become a global airport developer and operator. We have been on a journey of defining airports of the future with key focus on passenger experience by leveraging enhanced technology and offering superior amenities.

“With Groupe ADP, GMR will have smoother access to global markets, opening up newer avenues of business growth.”

Currently, GMR Airports has seven airports across India, the Philippines, and Greece along with a subsidiary specialized in project management (GADL).

Three of the airports are operated by GMR Airports, which included the Delhi International Airport and Hyderabad International Airport in India, and the Mactan-Cebu Airport in the Philippines.

Last year, the Indian airport group is said to have handled a total of 102 million passengers from the three airports.

The four other airports, which had seen 22 million passengers in 2019, are either currently being developed (Goa and Heraklion) or won after a bidding process (Nagpur and Bhogapuram). These airports will be operated by GMR Airports after their works are completed.

  Augustin de Romanet, Delhi, France, GM Rao, GMR Airports, GMR Group, Greece, Groupe ADP, Hyderabad, India, Paris, Philippines