{"id":361838,"date":"2020-07-08T11:26:28","date_gmt":"2020-07-08T05:56:28","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=361838"},"modified":"2020-07-08T11:26:28","modified_gmt":"2020-07-08T05:56:28","slug":"gmr-closes-stake-sale-deal-in-airport-biz-to-frances-adp","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/gmr-closes-stake-sale-deal-in-airport-biz-to-frances-adp\/","title":{"rendered":"GMR closes stake sale deal in airport biz to France\u2019s ADP"},"content":{"rendered":"<p>New Delhi: GMR Infrastructure Ltd, the company that operates Delhi and Hyderabad airports, today said that it has successfully completed its deal to sell 49% stake in its airports\u2019 business to France\u2019s Groupe ADP.<\/p>\n<p>The contours of the deal, however, has undergone \u2018slight modifications\u2019 due to circumstances arising out of the economic impact of COVID19 pandemic on businesses.<\/p>\n<p>\u201cAs per the revised Share Purchase Agreement, the second tranche of the investment for 24.01% of GMR Airports Limited (GAL) has been structured in two parts: A firm amount, immediately paid at Second closing, for a total of Rs 4,565 Crore, including Rs 1,000 crore equity infusion in GAL. Earn-outs amounting to Rs 1,060 Crore, subject to the achievement of certain performance related targets by GAL up to FY2024,\u201d said a statement from the company.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Delhi: GMR Infrastructure Ltd, the company that operates Delhi and Hyderabad airports, today said that it has successfully completed its deal to sell 49% stake in its airports\u2019 business to France\u2019s Groupe ADP. The contours of the deal, however, has undergone \u2018slight modifications\u2019 due to circumstances arising out of the economic impact of COVID19 pandemic on businesses. \u201cAs per the revised Share Purchase Agreement, the second tranche of the investment for 24.01% of GMR Airports Limited (GAL) has been structured in two parts: A firm amount, immediately paid at Second closing, for a total of Rs 4,565 Crore, including [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[192,130,136],"tags":[],"class_list":["post-361838","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-the-economic-times","category-newspapers","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/361838","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=361838"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/361838\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=361838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=361838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=361838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}