MUMBAI : Groupe ADP, formerly known as Aéroports de Paris or ADP, an international airport operator based in Paris, will hold 49 percent stake in GMR Airports Limited (GAL), GMR Infrastructure Limited (GIL), the parent of the airport company said in a statement late on Thursday. "GIL has signed a Share Purchase Agreement pursuant to which Groupe ADP will hold 49 percent stake in GMR Airports Limited (GAL) for an equity consideration of Rs. 5,248 crore will be received by GMR Group immediately, which will be utilised to deleverage the Group's massive debt. However, Mint now understands, the deal of GMR Group deal with Tata Group has been scrapped for its airports business, according to the sources. However, the Airports Authority of India (AAI) sought the opinion of the Solicitor General of India on the legality of Tatas plan to take a majority stake in GMR Airports.

Source: Mint February 20, 2020 17:16 UTC