France’s Groupe ADP has infused Rs 4,565 crore, which is the second tranche of investment, in GMR Airports Ltd (GAL) to conclude its deal to purchase a total of 49 per cent shareholding in the company. In February the company had announced that Groupe ADP would acquire 49 per cent stake in it for Rs 10,780 crore. In its first tranche of investment, Groupe ADP had paid Rs 5,248 crore on February 26, 2020 to GAL to purchase 24.99 per cent.
GAL’s main activity is in India where it has operations at four airports – Delhi, Hyderabad, MOPA in Goa, and Bhogapuram in Andhra Pradesh. The contract for the Nagpur airport has been cancelled by the Maharashtra government. In Philippines it has an EPC contract at one airport (50 pc stake) and operations at the other airport with 40 per cent minority stake.
