GMR and Airport De Paris may jointly bid for airport projects

29 Jul 2021 CW Team

GMR Airports and Airport De Paris (ADP) are likely to bid together for future airport projects – greenfield, brownfield, or airport management.

In 2020, GMR Group completed a Rs 10,780 crore deal to sell a 49% stake in its airport division to Groupe ADP, the operator of Paris airport and one of the world's largest airport companies.

The Centre intends to privatise at least 13 airports as soon as possible, and the GMR-Groupe ADP partnership is expected to be a strong contender.

The two companies have reached an agreement under which they will work together on a variety of projects, including engineering and project management, airport operations, and passenger experience.

GBS Raju, chairman of GMR Group's airport's division, told the media that the partnership between GMR and ADP will result in the world's largest airport alliance, handling 325 million passengers annually.

Industry experts told the media that the formation of a loose joint venture between Groupe ADP and GMR Airports will help GMR attract more European airlines to Delhi, making it an Asia hub for all European travellers.

The acquisition of a stake in GMR Airports by Groupe ADP was done in two stages, according to the share purchase agreement. The first stage of the sale, for a 24.99% stake, took place in February 2019.

Last year, the second phase was completed in two parts: the first involved a Rs 4,565 crore investment from Groupe ADP, which included a Rs 1,000 crore equity investment in GMR Airports.

The second part consists of Rs 1,060 crore in earn-outs, which are contingent on GMR Airports meeting certain performance-related targets through FY24.

GMR Group will retain management control of the airports as part of the deal, with Groupe ADP having the usual rights and board representation at GMR Airports and its key subsidiaries.

Image Source

Also read: Adani Group takes control of Mumbai airport management

Also read: Zurich Airport inks pact for Noida International Airport development

GMR Airports and Airport De Paris (ADP) are likely to bid together for future airport projects – greenfield, brownfield, or airport management. In 2020, GMR Group completed a Rs 10,780 crore deal to sell a 49% stake in its airport division to Groupe ADP, the operator of Paris airport and one of the world's largest airport companies. The Centre intends to privatise at least 13 airports as soon as possible, and the GMR-Groupe ADP partnership is expected to be a strong contender. The two companies have reached an agreement under which they will work together on a variety of projects, including engineering and project management, airport operations, and passenger experience. GBS Raju, chairman of GMR Group's airport's division, told the media that the partnership between GMR and ADP will result in the world's largest airport alliance, handling 325 million passengers annually. Industry experts told the media that the formation of a loose joint venture between Groupe ADP and GMR Airports will help GMR attract more European airlines to Delhi, making it an Asia hub for all European travellers. The acquisition of a stake in GMR Airports by Groupe ADP was done in two stages, according to the share purchase agreement. The first stage of the sale, for a 24.99% stake, took place in February 2019. Last year, the second phase was completed in two parts: the first involved a Rs 4,565 crore investment from Groupe ADP, which included a Rs 1,000 crore equity investment in GMR Airports. The second part consists of Rs 1,060 crore in earn-outs, which are contingent on GMR Airports meeting certain performance-related targets through FY24. GMR Group will retain management control of the airports as part of the deal, with Groupe ADP having the usual rights and board representation at GMR Airports and its key subsidiaries. Image Source Also read: Adani Group takes control of Mumbai airport management Also read: Zurich Airport inks pact for Noida International Airport development

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