NEW DELHI: GMR Airports Infra (GIL) will acquire 10% stake in Delhi International Airport (DIAL) that Fraport Airport holds for $126 million. After this, GMR’s stake in IGIA will rise to 74%, with Airports Authority of India having the remaining 26%.
GIL on Monday said it has entered into a share purchase agreement with Fraport AG Frankfurt Airport Services Worldwide to acquire the latter’s current minority 10% equity stake in DIAL.GIL currently holds 64% of the paid-up capital of DIAL. The transaction, subject to the AAI’s approval and approval of GIL shareholders, is expected to be concluded within 180 days from the date of execution of this SPA. GBS Raju, business chairman (airports), said, “Fraport has been one of the original shareholders and have been our partners in Airport journey. They have extended significant technical support to Delhi Airportas per the role of Airport Operator.”
GIL on Monday said it has entered into a share purchase agreement with Fraport AG Frankfurt Airport Services Worldwide to acquire the latter’s current minority 10% equity stake in DIAL.GIL currently holds 64% of the paid-up capital of DIAL. The transaction, subject to the AAI’s approval and approval of GIL shareholders, is expected to be concluded within 180 days from the date of execution of this SPA. GBS Raju, business chairman (airports), said, “Fraport has been one of the original shareholders and have been our partners in Airport journey. They have extended significant technical support to Delhi Airportas per the role of Airport Operator.”
