1 week Ago
GMR Airports Infrastructure will acquire a 10% minority stake in Delhi International Airport Limited (DIAL) from Fraport AG Frankfurt Airport Services Worldwide for an aggregate consideration of $126 million. DIAL is a subsidiary of GMR Airports and the latter currently holds 64% stake in the company. Erstwhile known as GMR Infrastructure Limited (GIL), the company has entered into a share purchase agreement with Fraport to execute the said transaction, a company filing on Monday said.
Apart from GMR and Fraport, Airports Authority of India (AAI) holds a 26% equity stake in DIAL. GMR Airports expects the deal to be concluded within 180 days from the date of execution of the said SPA. Stock Trading Market 101: An Insight into Trendlines and Momentum By - Rohit Srivastava, Founder View Program Stock Trading Markets 102: Mastering Sentiment Indicators for Swing and Positional Trading By - Rohit Srivastava, Founder View Program Stock Trading Market 103: Mastering Trends with RMI and Techno-Funda Insights By - Rohit Srivastava, Founder View Program Stock Trading Market 104: Options Trading: Kickstart Your F&O Adventure By - Saketh R, Founder- QuickAlpha, Full Time Options Trader View Program Stock Trading Introduction to Technical Analysis & Candlestick Theory By - Dinesh Nagpal, Full Time Trader, Ichimoku & Trading Psychology Expert View Program Kiran Kumar Grandhi, Corporate Chairman of GMR Group, said that the acquisition of additional stake in DIAL is in line with the company's objective of consolidating its presence in core assets of the Group and signifies the importance of Delhi airport in the overall Group portfolio.
Fraport being a holder of 10% equity stake in DIAL, would be a related party to DIAL. Shares of GMR Airports today ended at Rs 91.20 on the NSE, up by Rs 0.
17 or 0.19% over the Friday closing price. Also Read: Trent, Zomato help Junior Nifty beat midcap and smallcap peers.
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