NEW DELHI: GMR Airports Infra Ltd (GIL) will acquire 10% stake in Delhi International Airport Ltd (DIAL) that Fraport Airport hold for $126 million. After this, GMR’s stake in IGIA will rise to 74% with Airports Authority of India having the remaining 26%.
GIL Monday said it has entered into a share purchase agreement (SPA) with Fraport AG Frankfurt Airport Services Worldwide to acquire the latter’s current minority 10% equity stake in DIAL.
Delhi International Airport Limited (“DIAL”), a subsidiary of the Company. 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 Airport as per their role of Airport Operator.”
Kiran Kumar Grandhi, corporate chairman of GMR Group, said: “The acquisition of additional stake in
DIAL is in line with our objective of consolidating our presence in core assets of the Group and signifies
the importance of Delhi airport in the overall Group portfolio.”
GIL Monday said it has entered into a share purchase agreement (SPA) with Fraport AG Frankfurt Airport Services Worldwide to acquire the latter’s current minority 10% equity stake in DIAL.
Delhi International Airport Limited (“DIAL”), a subsidiary of the Company. 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 Airport as per their role of Airport Operator.”
Kiran Kumar Grandhi, corporate chairman of GMR Group, said: “The acquisition of additional stake in
DIAL is in line with our objective of consolidating our presence in core assets of the Group and signifies
the importance of Delhi airport in the overall Group portfolio.”
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