The Competition Commission of India has given green signal for selling 49 per cent stakes to France’s Group ADP through green channel mechanism. “CCI received the following green channel combination of acquisition by Atropos de Paris SA (ADP) of equity share capital of GMR Airports Limited (GAL), and GMR Infra Services Limited (GISL),” an official statement said.
GMR Infrastructure Limited had earlier this week announced that it entered into a strategic partnership with Groupe ADP to sell 49 per cent stake in its airports arm for an equity consideration of Rs 10,780 crore. CCI clarified that ADP would acquire up to 100 per cent of the equity shares of GISL directly and 49 per cent of the equity shares of GAL directly and indirectly.
ADP, an international airport operator based in Paris doesn’t have any operations in India currently.
