(Image source from: Timesofindia.indiatimes.com)
GMR Airports Sells 49% Stake:- GMR Group happens to be of the country's biggest private airport infra player. GMR is said to have sold its 49% stake to Aeroports De Paris, a French group for a price of Rs 10.780 crores. The deal is valued at Rs 22,000 crores and GMR Airports Limited (GAL) will get Rs 5248 crores immediately. During March last year, GIL announced that a consortium of Tatas, GIC and SSG Capital Management will invest Rs 8000 crores in GMR Group.
With this deal, the upcoming airports of Delhi will have a European touch. The combined passengers that are handled by GMR and ADP are said to be 33.6 crores in 2019 which is said to be the highest in the world. With GMR receiving Rs 5248 crores, this would help them for cash flows and other investments. With ADP adding up business with GMR, they would stand as the leaders in the airport industry for sure. "With this deal, ADP and GMR will have smoother access to global markets," said GM Rao, the Chairman of GMR Groups.