S&R Associates represented Aéroports de Paris S.A. (Groupe ADP) in its acquisition of an aggregate 49% stake in GMR Airports Limited in two tranches. The first tranche of the acquisition was completed in February 2020; the second tranche has now been completed on July 7, 2020.
Groupe ADP had signed on 20 February 2020 a share purchase agreement to buy, under certain usual regulatory conditions, a 49% stake in GMR Airports. According to the Press Release by Groupe ADP, "In order to take into account the pandemic impact linked to the Covid-19 on the aviation sector and its medium term perspectives in the airports of GMR Airports, Groupe ADP and GMR have signed, on July 7 2020, an amendment to the share purchase agreement and the shareholders' agreement."
The S&R corporate team was led by partners Rajat Sethi and Mohit Gogia and included associates Lakshmi Pradeep, Meher Mehta, Sushmita Sur, Anindhya Shrivastava, Ajatshatru Pandey, Yash Kumar, Shinjan Alok and Aashima Bhatia. Simran Dhir, head of competition practice, and associates Dhruv Agarwal and Ishika Rout advised on competition law matters.