GMR Airports Infrastructure informed exchanges that the company will acquire a 10% stake in Delhi International Airport for USD 126 million. The acquisition will be made through a Share Purchase Agreement (SPA) with Fraport AG Frankfurt Airport Services Worldwide.
As per the exchange filing, the company shared, “GIL currently holds 64% of the paid-up capital of DIAL and post the proposed acquisition, its stake in DIAL would increase to 74%. Airports Authority of India (AAI) continues to holds 26% equity stake of DIAL. Post consummation of the Transaction, Fraport’s appointment as the Airport Operator of DIAL shall continue to be governed by the Airport Operator Agreement and/or any other agreement(s) executed in relation to its role as the Airport Operator.”
The transaction, subject to AAI approval and GIL Shareholder approval, as well as customary closing conditions, is expected to close within 180 days of the date of execution of the said SPA.
