Groupe ADP Trims Stake in GMR Airports in a $1.08 Billion Deal
France's Groupe ADP is reducing its stake in GMR Airports by selling 7.3% to the GMR promoter group for over Rs 10,100 crore. Groupe ADP's holding will decrease to 25% as GMR's rises to 42.2%. The transaction aims to optimize Groupe ADP's financial strategy in its international assets.
- Country:
- India
In a strategic financial move, France's Groupe ADP has announced the reduction of its stake in GMR Airports Ltd by 7.3%, selling it to the GMR promoter group. The transaction is valued at over Rs 10,100 crore, translating to approximately $1.08 billion, according to exchange rates.
Post-deal, Groupe ADP's holding in GMR Airports, which operates major airports including those in Delhi and Hyderabad, will decrease from 32.3% to 25%. Meanwhile, GMR's stake will rise from 34.9% to 42.2%. The public shareholding remains steady at around 32.8%.
This divestment aligns with Groupe ADP's strategy to optimize the financial yields of its international assets, without any intention for further divestment from GMR Airports. The strategic partnership between the two entities continues, maintaining Groupe ADP's governance rights in GMR Airports.
(With inputs from agencies.)
Google News