GMR Airports Infra-ADP SA deal receives clearance from CCI

The fair-trade regulator CCI approved the proposed deal between GMR Airports Infrastructure and Aeroports de Paris SA (ADP) through the green channel route. The CCI notice states that the proposed combination involves ADP’s acquisition of foreign currency convertible bonds (FCCB) issued by GMR Airports Infrastructure Ltd.

In addition to approving the proposed deal, the Competition Commission of India (CCI) has also given clearance to the intra-group merger of GMR Airports Ltd and GIDL with GMR Airports Infrastructure Ltd. Furthermore, the regulator has approved ADP’s acquisition of equity shares and optionally convertible redeemable preference shares of GMR Airport Infrastructure after the merger, along with its group entities.

Announcement

GMR Airports Infrastructure Ltd (GIL) announced on March 19th that it would merge with its subsidiary, GMR Airport Ltd.

GMR Airports Infrastructure, a global infrastructure conglomerate with expertise in airport operations, is partnering with ADP, an international airport operator owned by the French government. GIDL, on the other hand, is a wholly-owned subsidiary of GMR Airport Infrastructure.

The proposed merger does not raise any concerns regarding competition, according to the Competition Commission of India. “There are no horizontal overlaps, vertical links, and complementary businesses between the acquirer and the targets in India,” the CCI stated. As a result, we are submitting the transaction through the green channel, which allows us to approve transactions that do not pose a significant risk to competition.

The French government owns Aeroports de Paris SA, which is now known as Groupe ADP.

The GMR Airports-ADP deal is expected to play a key role in the growth of the Indian aviation sector, as GMR Airport and ADP will bring in much-needed investment and expertise. Other foreign companies are likely to invest in the Indian aviation sector following the GMR Airport-ADP deal.

Overall, the clearance from the CCI is a positive development for both GMR Group and ADP. The deal will create significant value for both companies and contribute to the growth of the Indian aviation sector.

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