CCI okays GMR’s 49% stake sale in airport business to France’s Groupe ADP
Competition Commission of India has given approval for GMR group’s proposed 49 per cent stake sale in its airport business to France’s Groupe ADP.
The regulator’s clearance is through the green channel, which allows for an automatic system for speedy approval of combinations, subject to certain conditions.
On Thursday, GMR Infrastructure said the French group would acquire 49 per cent stake in its airport business for Rs 10,780 crore, a deal that will help the domestic entity reduce its debt burden.
In a tweet on Friday, the watchdog said it has received “green channel combination filing from Aeroports de Paris SA for acquisition of 49 per cent stake in GMR Airports Ltd and 100 per cent stake in GMR Infra Services Ltd”.
Applications received under the green channel are deemed approved.
