GMR Airports Infra raises ₹2,900 crore from Groupe ADP
AVIATION & AIRPORTS

GMR Airports Infra raises ₹2,900 crore from Groupe ADP

GMR Airports Infrastructure Limited (GIL) announced the approval of the composite scheme of amalgamation and arrangement of GMR Airports Limited (GAL) with GIL by its board (Merger). It will borrow Rs. 29 billion from Aéroports de Paris SA (Groupe ADP) over a 10-year period. GMR Group will continue to be GIL's single largest shareholder and will retain management control.

“..Entering into a Strategic Partnership with Groupe ADP in early 2020 to create a world class airport platform whereby Groupe ADP agreed to purchase 49% stake in GAL. At the time of the transaction, Groupe ADP had pegged equity earnouts of ~8% of GAL and cash earnouts of Rs 10.6 billion to GIL," the company said in an exchange filing.

Aéroports de Paris and GMR Airports Infrastructure Ltd. agreed to merge their joint venture, giving ADP a liquid stake in an Indian airfield company. ADP and GMR Airports Infrastructure own 49% and 51% of the unlisted GMR Airports Ltd, respectively. The merger of GMR Airports Infrastructure and GMR Airports will simplify the unlisted company's capital structure, allowing the combined entity to more easily capture new business, according to the companies.

According to the companies, the merger will take place in the first half of 2024. ADP would own 45.7% of GMR Airports Infrastructure and GMR Airports combined.

“Demand for air travel has picked up substantially, which will speed up airport privatisation initiatives of the respective governments across the world," GMR said in a separate statement.

ADP will invest €331 million ($353 million) in GMR Airports Infrastructure foreign currency convertible bonds, with the proceeds used by the Indian company to clear its balance sheet by repaying corporate debt and settling a significant portion of its liabilities. According to ADP, the investment will result in a cash expense of the same amount in the coming weeks.

See also:
NIIF to invest Rs 6.31 bn in GMR’s Mopa, Goa airport
GMR Group to invest 50,000mn in Bhogapuram Airpor


GMR Airports Infrastructure Limited (GIL) announced the approval of the composite scheme of amalgamation and arrangement of GMR Airports Limited (GAL) with GIL by its board (Merger). It will borrow Rs. 29 billion from Aéroports de Paris SA (Groupe ADP) over a 10-year period. GMR Group will continue to be GIL's single largest shareholder and will retain management control. “..Entering into a Strategic Partnership with Groupe ADP in early 2020 to create a world class airport platform whereby Groupe ADP agreed to purchase 49% stake in GAL. At the time of the transaction, Groupe ADP had pegged equity earnouts of ~8% of GAL and cash earnouts of Rs 10.6 billion to GIL, the company said in an exchange filing. Aéroports de Paris and GMR Airports Infrastructure Ltd. agreed to merge their joint venture, giving ADP a liquid stake in an Indian airfield company. ADP and GMR Airports Infrastructure own 49% and 51% of the unlisted GMR Airports Ltd, respectively. The merger of GMR Airports Infrastructure and GMR Airports will simplify the unlisted company's capital structure, allowing the combined entity to more easily capture new business, according to the companies. According to the companies, the merger will take place in the first half of 2024. ADP would own 45.7% of GMR Airports Infrastructure and GMR Airports combined. “Demand for air travel has picked up substantially, which will speed up airport privatisation initiatives of the respective governments across the world, GMR said in a separate statement. ADP will invest €331 million ($353 million) in GMR Airports Infrastructure foreign currency convertible bonds, with the proceeds used by the Indian company to clear its balance sheet by repaying corporate debt and settling a significant portion of its liabilities. According to ADP, the investment will result in a cash expense of the same amount in the coming weeks. See also: NIIF to invest Rs 6.31 bn in GMR’s Mopa, Goa airport GMR Group to invest 50,000mn in Bhogapuram Airpor

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