JSA advised and assisted Fraport AG Frankfurt Airport Services Worldwide("Fraport") in the proposed sale of its 10% (ten percent) shareholding in Delhi International Airport Limited ("DIAL"), to GMR Airports Infrastructure Limited ("GIL"). The parties have entered into a share purchase agreement dated September 9, 2024 for the proposed sale ("Proposed Transaction").
Fraport and GIL are members of a consortium, which had bid, and were selected by Airports Authority of India ("AAI") (with the approval of the Government of India) as the joint venture partners for undertaking the project to operate Indira Gandhi International Airport ("IGI Airport").
GIL (a member of the GMR Group) is a leading airport developer in India and holds, along with its affiliates, 64% (sixty-four percent) of the equity share capital of DIAL. Fraport, incorporated in 1924 in Frankfurt, Germany, is a leader in the global airport business, and offers a wide range of operational and management solutions.
Post the Proposed Transaction, GIL's stake in DIAL will increase to 74% (seventy-four percent). However, Fraport shall continue as the operator of the IGI Airport.
Deal Value: USD 126 million (approximately INR 10.58 billion)