GMR Infra jumps 10% as France's Groupe ADP to buy 49% stake in GMR Airports

As part of the terms of transaction, GMR will retain management control over the Airports Business with Groupe ADP having the customary rights

Shares of GMR Infrastructure (GIL) surged 10 per cent to Rs 25.95, also its 52-week high on the BSE on Monday after the company announced it has entered into a strategic partnership with French airports operator Groupe ADP for its Airports Business. 

"GIL has signed a share purchase agreement pursuant to which Groupe ADP will hold 49 per cent stake in GMR Airports Limited (GAL) for an equity consideration of Rs 10,780 crore, valuing GAL at the base post money valuation of Rs 22,000 crore," the company said in its press release. 

This equity consideration comprises Rs 9,780 crore towards