Abu Dhabi – Mubasher: The Abu Dhabi Investment Authority (ADIA) is reportedly in advanced talks with GMR Group to buy a 49% stake in Hyderabad Airport, according to The Economic Times - India.
The Indian newspaper on Tuesday forecast that the deal will be executed within a few weeks, as the negotiations are at "very advanced stages”.
India’s GMR Group holds a 64% stake in Delhi International Airport and 63% in Hyderabad International Airport, in addition to 40% of the Philippines’ Mactan-Cebu International Airport.
Talks began after Bengaluru-based infrastructure developer GMR Group announced plans to reduce its debt burden by selling non-core assets, and provide opportunities for investors.
Paris Aeroport, formerly Aeroports de Paris, is also reportedly holding negotiations with the Indian airport investor, the sources told The Economic Times, noting that talks with the UAE’s ADIA were likely to be more advanced.
