Groupe ADP to sell up to 7.3% stake in GMR Airports Ltd

New Delhi: French airport operator Groupe ADP has signed agreements with the GMR to sell up to 7.3 % of the equity share capital of GMR Airports Ltd (GAL).

According to a Groupe ADP statement, the deal includes the early purchase of convertible bonds held by the French airport operator by the GMR Promoter Group. The transaction is expected to generate overall post-tax cash proceeds of about 924 million.



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Accordingly, the agreements comprise three separate arrangements.