Aéroport de Paris (ADP) and the Indian group GMR Enterprises announced on Sunday that they have signed an agreement to create an airport holding company which will be listed on the Indian financial markets in the first half of 2024. ADP, of which the French State controls the majority, acquired 49% of GMR Airports in 2020, in the midst of the Covid-19 crisis for 1.2 billion euros.
GMR Infrastructure, the subsidiary of the construction and energy group GMR Enterprises which holds the remaining 51%, will merge with GMR Airports to allow "
Groupe ADP to become a shareholder of an airport holding company listed on the BSE Limited and the National Stock Exchange of India Limited
”, is it detailed in the press release.
This operation will enable us to fully seize the development opportunities of the Indian airport market in the coming years
", welcomed the CEO of ADP Augustin de Romanet, quoted in the press release.
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GMR manages several platforms, including Indira-Gandhi in New Delhi, Rajiv-Gandhi in Hyderabad (state of Telangana, south) and Manohar in Mopa (Goa, south-west).
These three airports in total capture a quarter of current Indian air traffic, a sector whose growth potential in the coming years is announced as enormous.
At the end of February, ADP announced its objective to deleverage GMR as quickly as possible, which has invested in considerable projects to develop its platforms, with an IPO as the planned track.