ADP to sell around 7.3% stake in India's GMR Airports for up $1.05 billion

GMR Airports (India)

23/04/2026 18:52

April 23 (Reuters) - France's airport group ADP ADP.PA said on Thursday it had agreed with India's GMR Group GMRI.NS to sell up to a 7.3% stake in GMR Airports Ltd for an estimated 924 million euros ($1.05 billion) in cash.

Here are some details:

* The transaction includes an immediate sale of a 3.4% stake for 256 million euros ($299 million).

* The deal includes options for ADP to sell a further 3.9% stake by April 2027.

* ADP's board proposed a special dividend of 0.8 euros per share for 2025, the company said.

* GMR Group will also buy back convertible bonds held by ADP for 301 million euros plus interest.

* ADP said the deal would preserve its governance rights and promoter status in GMR Group.

* ADP added that the transaction was part of its strategy to unlock value from international assets.

 ($1 = 0.8562 euros)

 (Reporting by Dagmarah Mackos; Editing by Hugh Lawson)

 ((dagmarah.mackos@thomsonreuters.com;))