Completion of the Merger Between GMR Airports Ltd and GMR Airports Infrastructure Ltd

Groupe ADP and GMR Airports Infrastructure Ltd (GIL) have completed the merger with GMR Airports Ltd (GAL). This merger, announced in March 2023, is effective as of today. Groupe ADP now holds a 45.7% economic interest in the merged entity, GMR Airports Infrastructure Ltd (New GIL).

The merger simplifies the capital structure of New GIL and enhances its visibility and agility. New GIL will also benefit from easier access to financial markets, positioning it to capture growth opportunities in Asia. The ordinary equity shares of New GIL will be tradable on major Indian stock exchanges soon.

The completion of the merger results in a non-cash charge to Groupe ADP's net income for the second half of 2024. However, the unwinding of FCCBs by 2033 is expected to positively impact the group's net income.

Groupe ADP's Chairman and CEO, Augustin de Romanet, highlighted that this merger turns New GIL into a pure-play airport asset company. This aligns with Groupe ADP's strategy of selective international growth, aiming to support traffic growth and pursue development opportunities in Asia.