SAM, S&R, HogLove do $1.56bn Aéroports de Paris buy into GMR Airports with CCI blessing

Aéroports de Paris (AdP) S.A.proposed to invest INR 10,780 crore in GMR Airports Limited. The transaction involves an acquisition of an aggregate 49% stake in GMR Airports Limited in two tranches. The second tranche of the transaction is subject to approvals from regulatory authorities, according to an AdP press release and press reports.

S&R Associates advised Aeroports de Paris SA led by partnerRajat Sethi on transactional and M&A aspects with partnerMohit Gogia, associateLakshmi Pradeep, associateMeher Mehta, associateSushmita Sur, associateAnindhya Shrivastava, associateAjatshatru Pandey, associateYash Kumar, associateShinjan Alok, associateAashima Bhatia; competition law matters were advised by competition headSimran Dhir, associateDhruv Agarwal, associateIshika Rout.

Hogan Lovells International LLP’s Paris and London offices acted as international legal advisers to the acquirer.

Shardul Amarchand Mangaldas acted as legal advisers to GMR Airports Limited led by a team of projects and infrastructure partnersJatin Aneja and V R Neelakantan, principal associateVeena Kolachina, associatesArpita Sharma, Charu Mehrish, Suranjan Shukla, Arushi Dua, Lipsa Acharyya, Thejesh R and Kriti Shukla. In matters of labour law, principal associateVaibhav Bhardwaj and associateAnjuli Marwah helped in the transaction. Additionally, partnersHarman Singh Sandhu and Yaman Verma with associateSonali Charak advised in matters of competition law.

Philippines-based law firm Accra Law advised GMR Airports Limited on competition-related issues.

SyCip Salazar Hernandez & Gatmaitan – Philippines-based legal advisers to the acquirer, Aeroports de Paris, on competition related matters.

Zaoui & Co was the international financial and strategic advisers to the acquirer.

KPMG India was the Indian financial and tax advisers to the acquirer.

PricewaterhouseCoopers was financial and tax adviser to the target.

2020-02-20

Deal value: INR 10,780 crore

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