 "GMR Group")
The GMR Group and its joint venture (JV) partner -- the French Groupe Aeroports de Paris (ADP) -- will merge their unlisted company, GMR Airports (GAL) into the listed GMR Airports Infrastructure (GIL), alongside an infusion of €331 million (Rs 2,900 crore) via the foreign currency convertible bond (FCCB) route by ADP. While the merger is subject to regulatory clearance and shareholder approval, it could take place in the early part of the 2024 calendar year.
ADP holds 49 per cent in GAL and had agreed to equity earnouts of 8 per cent of GAL and cash earnouts of Rs
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