GMR Airports acquires 10% stake in Delhi International Airport

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GMR Airports acquires 10% stake in Delhi International Airport

GMR Airports Limited (GAL), a subsidiary of GMR Infrastructure Limited, has closed the acquisition of 10% equity stake in the Delhi International Airport Pvt. Limited (DIAL) in India from Malaysia Airports (Mauritius) Private Limited (MAMPL).

Specifically GAL has acquired 24,50,00,000 shares of face value of Rs. 10 each, representing 10% equity stake in DIAL for a revised consideration of US$80 million in line with the terms of the definitive agreements.

DIAL is a special purpose vehicle formed to carry out development, operation and management of IGI airport, Delhi. With the acquisition of stake from MAMPL, GAL equity stake in DIAL has increased to 64%.

Delhi Indira Gandhi International Airport spread over an area of 2,066 ha, is situated in Palam, 15 km south-west of the New Delhi railway station and 16 km from New Delhi city center. In 2014, the airport was among the top 30 busiest airports in the world with 39.7 million passengers handled, registering a 7.8% growth in traffic over the previous year.

With the commencement of operations at Terminal 3 in 2010, it became India's and South Asia's largest aviation hub, with a current capacity of handling more than 62 million passengers. The planned expansion program will increase the airport's capacity to handle 100 million passengers by 2030.

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