GMR AIRPORTS LIMITED has informed the Exchange about Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( Listing Regulations )-Acquisition
GMRAIRPORT · price
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GMR Airports' wholly-owned step-down subsidiary GMR Airports Greece Single Member S.A. (GAGSMSA) has incorporated and acquired 60% stake in GMR Terna Commercial S.A. (GTCSA) in Athens, Greece, by subscribing to 6,00,000 shares of Euro 1 each, aggregating to Euro 6,00,000 (approximately INR 6 crores). GTCSA will undertake non-aeronautical businesses (like retail, food & beverage, parking, advertising) at the New Heraklion International Airport at Kasteli, Crete, Greece. This strengthens GMR's airport adjacencies and is in furtherance of its existing Crete airport development, operation and maintenance contract. The transaction is not a related party transaction and requires no government or regulatory approvals. GTCSA is yet to commence business operations.
This is a small, strategic bolt-on acquisition (only ~INR 6 crores) aimed at expanding non-aeronautical revenue streams at the Crete Airport. Positive for long-term shareholders as it complements the existing airport concession, but the financial impact is immaterial in the near term.