Commission Decision No. 13-M-007/2020: Proposed Acquisition by Aéroports de Paris SA of Shares in GMR Airports Limited
Commission Decision No. 13-M-007/2020:
Proposed Acquisition by Aéroports de Paris SA of Shares in GMR Airports Limited
The proposed transaction involves the purchase by Aéroports de Paris SA (ADP), a French corporation, of a 24.01% stake in GMR Airports Limited (GMR). It follows the acquisition of a 24.99% indirect stake. Once the proposed transaction is completed, GAL will be jointly owned by ADP with GMR Infrastructure Limited, a listed Indian corporation, which will keep a 51% stake and retain control over GAL.
GMR has a portfolio of assets comprising seven airports in Philippines, India and Greece. Three out of the seven airports are operated by GMR: the Mactan-Cebu International Airport in the Philippines in partnership with Megawide Construction Corporation, the Delhi International Airport, and the Hyderabad International Airport in India. These airports handled a total of 102 million passengers in 2019. On the other hand, the four other airports handled a total of 22 million of passengers in 2019.
As reported by ADP, the acquisition forms part of its international strategy by acquiring airport clusters located in dynamic regions in terms of economy and air traffic.