GMR Airports Infra and GMR Airports merge to capitalise on the growth
22 Mar 2023
2 Min Read
CW Team
The merging of GMR Airports Limited (GAL) and GMR Airports Infrastructure Ltd (GIL) has been
announced by GIL. According to a press release from the firm, the merger, subject to regulatory
approval, is anticipated to close within the next fiscal, and will further elevate GMR's collaboration
with Aeroports de Paris SA (Groupe ADP). According to GIL, the merger will be a crucial step towards
strengthening the balance sheet even more so that it can take advantage of future growth
prospects.
Year 2020 saw the signing of a strategic partnership between GMR Airports Infra and Groupe ADP, in
which the latter committed to buy 49% stake in GAL. Groupe ADP stated that at the time of the deal,
GIL will get cash earnouts of Rs 10.6 billion and equity earnouts of about 8% of GAL. Speaking on the
merger, GM Rao, Chairman, GMR Group stated, 鈥淢erger signifies a transformative event and will be
a value enhancer for all the stakeholders. Our strong partnership with Groupe ADP emanating from
combined resources and expertise will enable the company to capture fast growing airport business
opportunities and maintaining our leadership position in the airport business.鈥�
According to the firm, GIL and Groupe ADP will settle the cash earnouts to GIL of Rs 5.5 billion and
the equity earnouts, increasing GIL's share in GAL from 51% prior to the merger to 55%. According to
the firm, GMR Group will continue to be the only stakeholder and manager of the combined
company after the merger is complete. GIL will possess 33.7% of the paid-up equity share capital,
Groupe ADP 32.3%, and the public will own 34%, respectively.
Moreover, GMR Infrastructure announced plans to issue 10-year foreign currency convertible bonds
(FCCB) to Groupe ADP in order to generate Euro 331 million (about Rs 29 billion). Kiran Kumar
Gandhi, the Group鈥檚 Corporate Chairman said, 鈥淎s envisaged earlier in 2020 to simplify the
corporate structure and strengthen the balance sheet, this merger is a step in the right direction,
taken at the right time. The merger will achieve financial and operational excellence, among others,
enabling GIL to stay ahead of competition.鈥�
The merging of GMR Airports Limited (GAL) and GMR Airports Infrastructure Ltd (GIL) has been
announced by GIL. According to a press release from the firm, the merger, subject to regulatory
approval, is anticipated to close within the next fiscal, and will further elevate GMR's collaboration
with Aeroports de Paris SA (Groupe ADP). According to GIL, the merger will be a crucial step towards
strengthening the balance sheet even more so that it can take advantage of future growth
prospects.
Year 2020 saw the signing of a strategic partnership between GMR Airports Infra and Groupe ADP, in
which the latter committed to buy 49% stake in GAL. Groupe ADP stated that at the time of the deal,
GIL will get cash earnouts of Rs 10.6 billion and equity earnouts of about 8% of GAL. Speaking on the
merger, GM Rao, Chairman, GMR Group stated, 鈥淢erger signifies a transformative event and will be
a value enhancer for all the stakeholders. Our strong partnership with Groupe ADP emanating from
combined resources and expertise will enable the company to capture fast growing airport business
opportunities and maintaining our leadership position in the airport business.鈥�
According to the firm, GIL and Groupe ADP will settle the cash earnouts to GIL of Rs 5.5 billion and
the equity earnouts, increasing GIL's share in GAL from 51% prior to the merger to 55%. According to
the firm, GMR Group will continue to be the only stakeholder and manager of the combined
company after the merger is complete. GIL will possess 33.7% of the paid-up equity share capital,
Groupe ADP 32.3%, and the public will own 34%, respectively.
Moreover, GMR Infrastructure announced plans to issue 10-year foreign currency convertible bonds
(FCCB) to Groupe ADP in order to generate Euro 331 million (about Rs 29 billion). Kiran Kumar
Gandhi, the Group鈥檚 Corporate Chairman said, 鈥淎s envisaged earlier in 2020 to simplify the
corporate structure and strengthen the balance sheet, this merger is a step in the right direction,
taken at the right time. The merger will achieve financial and operational excellence, among others,
enabling GIL to stay ahead of competition.鈥�
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