NEW DELHI : Competition Commission of India has given approval for GMR group's proposed 49% stake sale in its airport business to France's Groupe ADP. Earlier, GMR group was to enter into a deal with Tatas for the airport business. A GMR group spokesperson confirmed that the deal with Tatas has been called off. GMR Group operates Indira Gandhi International Airport in New Delhi, Hyderabad's Rajiv Gandhi International Airport and Mactan Cebu International Airport in partnership with Megawide in Philippines. While the acquirer is Groupe ADP, the targets referred in the notice are GMR Infra Services Ltd and GAL.

Source: Mint February 21, 2020 13:07 UTC