GMR Infrastructure Limited (GIL) has announced a strategic partnership with Groupe ADP for its Airports Business wherein the latest will acquire 49 per cent stake.
GIL has signed a Share Purchase Agreement under which Groupe ADP will hold 49% stake in GMR Airports Limited (GAL) for an equity consideration of ₹10,780 crore, valuing GAL at the Base Post Money Valuation of ₹22,000 crore. This equity consideration comprises of ₹9,780 crore towards the secondary sale of shares by GMR group and ₹1,000 crore equity infusion in GAL.
Groupe ADP has also pegged Earn-outs up to ₹4,475 crore linked to the achievement of specific agreed operating performance metrics as well as on receipt of certain regulatory clarifications over the next five years. Thereby, total valuation assuming all above Earn-outs are successfully consummated may reach ₹26,475 crore on Post Money Basis.
