Hogan Lovells advises Groupe ADP on their acquisition of 49% of GMR Airports
Paris, 27 February 2020 – Hogan Lovells has advised Groupe ADP regarding a share purchase agreement to acquire a 49% stake in GMR Airports, a major Indian airport group. The total purchase price for this stake has been fixed at around 1.36 billion euros.
This deal, which will allow Groupe ADP to create the largest worldwide airport network, will unfold in two phases: the first will be completed within the coming days for a 24.99% stake and the second phase, resulting in a stake of 24.01%, is subject to certain regulatory conditions and will be completed in the coming months.
GMR Airports operates seven airports in three countries (India, the Philippines and Greece) alongside a subsidiary specialized in project management (‘GADL’).
This acquisition aligns with the continuous strategy of Groupe ADP, two years after taking control of TAV Airports.
The Hogan Lovells team in Paris was composed of Stéphane Huten (partner) assisted by Arnaud Deparday (Counsel), Léonie Bontoux and Florian Tranchecoste (associates) for the corporate aspects; Ludovic Geneston (partner) assisted by Adrian Gaina (associate) for the tax aspects; Eric Paroche (partner) assisted by Victor Levy (senior associate) for the antitrust aspects; Alexander Premont (partner) for the financing aspects. Charles Ford (Counsel) from the London office advised on aspects relating to infrastructure.