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CCI approved GMR Infra to Partner with Groupe ADP

Published on February 24, 2020
Current context: The anti-trust body Competition Commission of India (CCI) approved the proposal of GMR Infrastructure Ltd (GIL) to sell 49% stake in its airport business named GMR Airports Ltd (GAL) to France's Groupe ADP.
CCI approved GMR Infra to Partner with Groupe ADP
  • The partnership with Groupe ADP is in line with GMR's business objective to become a global airport developer and operator.
  • As per 2019 passenger statistics, the combined passengers handled by GMR Airports and Groupe ADP stands at 336.5 million, the highest across the world.
  • GIL has signed a share purchase agreement with Groupe ADP, which will hold 49% stake in GAL for an equity consideration of Rs 10,780 crore.
  • The equity consideration comprises Rs 9,780 crore of secondary sale of shares by GMR and Rs 1,000 crore worth of equity infusion in GAL.
  • As per the agreement, GMR will retain management control over its airport business, while Groupe ADP will have the customary rights and board representation at GAL and key subsidiaries.

Question: 

Q.1 The Competition Commission of India (CCI) has recently approved the proposal of GMR Infrastructure Ltd (GIL) to sell 49% stake in its airport business named GMR Airports Ltd (GAL) to ______________?
a. Abu Dhabi Airports Company
b. Indonesia’s Angkasa Pura
c. Australia Pacific Airports Corporation
d. France's Groupe ADP
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