Shardul Amarchand Mangaldas and Co advises GMR Airports Limited
February 26, 2020
Shardul Amarchand Mangaldas & Co (SAM & Co) advised GMR Infrastructure Limited, GMR Airports Limited (GAL) and other members of GMR group in the sale of 49% of the equity share in GAL (the company through which the airport sector operations of the GMR Group are undertaken) to Aéroports de Paris (Groupe ADP). The deal is valued at INR 10,780 Crores. The deal is structured in two phases, out of which the first phase has been successfully completed. As a part of the first phase, Groupe ADP has acquired and subscribed to 99.99% of the equity shares of GMR Infra Services Limited, and simultaneously with such acquisition, Groupe ADP has acquired 24.99% of the equity shares of GAL, indirectly. Subsequently, as a part of the second phase, subject to receipt of certain regulatory approvals, Groupe ADP will directly acquire and subscribe to 24.01% of the equity shares of GAL.
The SAM & Co Projects and Infrastructure team was led by Partners – Mr. Jatin Aneja and Mr. V R Neelakantan, Principal Associate – Ms. Veena Kolachina, Associates – Ms. Arpita Sharma, Ms. Charu Mehrish, Mr. Suranjan Shukla, Ms. Arushi Dua, Ms. Lipsa Acharyya, Mr. Thejesh R and Ms. Kriti Shukla. In matters of Labour Law, Principal Associate – Vaibhav Bhardwaj and Associate – Anjuli Marwah helped in the transaction. Additionally, Partners – Mr. Harman Singh Sandhu and Mr. Yaman Verma with Associate – Ms. Sonali Charak advised in matters of Competition Law.
ADP was advised by Hogan Lovells and S&R Associates (for Indian law related aspects of the transaction).