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10-Sep-2024 2:19 AM

GMR Airports enters SPA for acquisition of Fraport stake in Delhi International Airport Ltd

GMR Airports entered (09-Sep-2024) a share purchase agreement (SPA) with Fraport for the acquisition of Fraport's 10% equity stake in Delhi International Airport Ltd (DIAL). The acquisition will proceed for a negotiated aggregated consideration of USD126 million and will increase GMR's stake in DIAL from 64% to 74%. The transaction is expected to be concluded within 180 days of the execution of the SPA and is subject to approval from Airports Authority of India, which owns the remaining 26% stake in DIAL, as well as GMR's shareholders. [more - original PR - GMR Airports] [more - original PR - Fraport]

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