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Current Affairs

CCI approved GMR Infra to Partner with Groupe ADP

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
CCI approved GMR Infra to Partner with Groupe ADP CCI approved GMR Infra to Partner with Groupe ADP Reviewed by Neha Verma on February 24, 2020 Rating: 5

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