GMR Airports ltd. and affiliate to acquire 11% stake in GMR Hyderabad International Airport ltd. (GHIAL)

GMR Airports Limited and its affiliate, both subsidiaries of GMR Airports Infrastructure Limited , have entered into a significant Share Purchase Agreement ("SPA"). This agreement paves the way for GMR Group to acquire a substantial 11% equity stake in GMR Hyderabad International Airport Limited ("GHIAL") from Malaysia Airports Holding Berhad ("MAHB") and MAHB's wholly-owned subsidiary, MAHB (Mauritius) Private Limited ("MAMPL"). The total negotiated consideration for this acquisition amounts to USD 100 million.

Presently, GAL holds 63% of the paid-up capital in GHIAL. Once this proposed acquisition is completed, GMR Group's stake in GHIAL will rise to 74%. Meanwhile, the Government of Telangana (GoT) and the Airports Authority of India (AAI) maintain equal 13% holdings each in GHIAL's equity.

The transaction, subject to customary closing conditions, is anticipated to conclude within a maximum of 135 days from the SPA's execution date.

This acquisition represents a significant step in GMR Group's efforts to strengthen its position and presence in the key assets of the Group, emphasizing the strategic importance of Hyderabad Airport in the overall Group portfolio.