Paris airports takes first step in Indian market entry
On 20 February 2020, Aéroports de Paris (Groupe ADP) took its first step towards an expansion into the Indian market by signing an agreement regarding the acquisition, under certain conditions, of a 49% stake in GMR Airports.
The Indian airport group operates in a dynamic region and has a portfolio comprising seven airports in India, Philippines and Greece, and a subsidiary specialising in project management (GADL). Groupe ADP now holds 24.99% of GMR Airports, joins its board of directors and has highly extended governance rights.
Subject to certain regulatory conditions, Groupe ADP will purchase a further 24.01% in a second phase, which should occur in the upcoming months.
Upon completion of the second phase, GMR Airports will owned jointly by ADP (49%) and GMR Infrastructure Limited (GIL), which will keep a 51% stake and retain control over the company. (ah)