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Fraport AG has signed an agreement to sell its 10 percent stake in Delhi Airport to GMR Airports Infrastructure Limited (GIL) for USD 126 million. The transaction is expected to close in the first quarter of next year.
Sale of shares in Delhi Airport
Fraport AG sells its stake in Delhi Airport. It signed an agreement to sell its entire 10 percent stake in Delhi International Airport Limited (DIAL) to majority owner GMR Airports Infrastructure Limited (GIL) for USD 126 million. Fraport stated that the airport has been successfully modernized and developed into a major aviation hub in Asia.
Successful partnership
Dr. Stefan Schulte, Chairman of the Executive Board of Fraport AG, explained that the partnership with GIL has achieved impressive milestones over the past 18 years. The airport has been modernized, expanded, and developed into a major hub in Asia. Fraport emphasized its pride in the joint achievements.
Operating agreement: Continuation of support
In addition to the sale of the shares, it was also agreed that Fraport will continue to perform its supporting role in airport operations under the existing Airport Operator Agreement at Delhi Airport. Dr. Schulte added that Fraport will remain committed to the airport and GIL even after the transaction is completed.
Timing and impact
Fraport has owned the company’s shares since the airport’s privatization in 2006. The airport operator expects the transaction to close within the next 180 days, subject to approval by the Airports Authority of India and the shareholders of GIL. The proceeds from the sale will contribute to reducing the Group’s net financial debt.
Delhi Airport has been successfully developed for 18 years
Fraport AG, a leading global airport operator, has been an integral part of Delhi Airport for over 18 years. With extensive experience in airport operations and management, Fraport is known for innovative solutions and strategic partnerships that have led to significant successes in the aviation industry.
