The GMR Airports Infrastructure Limited (GIL) has reportedly entered into a share purchase agreement (SPA) with Fraport AG Frankfurt Airport Services Worldwide for the acquisition of its current 10 per cent stake in the Delhi International Airport Limited (DIAL).
The transaction is subject to the approval of the Airports Authority of India (AAI) and the shareholders of GIL. It is expected to be concluded within 180 days from the date the SPA was executed. The deal is valued at $126 million.
Post this, the stake of GIL in DIAL will rise from the current 64 per cent to 74 per cent. The remaining 26 per cent will be held by AAI.