Shardul Amarchand Mangaldas & Co (SAM) and JSA have advised on Fraport AG Frankfurt Airport Services Worldwide’s proposed sale of its 10% shareholding in Delhi International Airport (DIA) to GMR Airports Infrastructure for INR10.58 billion (USD126 million).
Partners Shivpriya Nanda and Zain Pandit, and senior associate Twisha Shrivastava led the JSA team.
SAM advised GMR Airports on the acquisition, with partner Jatin Aneja leading the team along with partner Prashant Sirohi. Senior associate Aditya Mitra and associate Madhvi Vangani assisted the team.
Fraport and GMR Airports are members of a consortium operating the Indira Gandhi International Airport in New Delhi under a joint venture.
GMR Airports, which is a part of the GMR Group, holds 64% in DIA, while Fraport, a global leader in the airport industry founded in 1924, owns 10%.
After completion, GMR Airports’ stake in DIA will increase to 74% and Fraport will continue to serve as the operator of Indira Gandhi International Airport.
