S&R Associates Represents Aéroports De Paris

S&R Associates represented Aéroports de Paris ("Groupe ADP"), an international airport operator, in the merger of GMR Airports Limited with GMR Airports Infrastructure Limited ("GIL"), which was completed on July 25, 2024. Pursuant to the merger, Groupe ADP holds 32.3% of the equity share capital (representing a 45.7% economic interest) in GIL, the merged entity, which operates airports in India and is listed on the Indian stock exchanges, with the GMR group continuing to be in management control. Taking into account the expanded capital base and the closing date share price, the derived market capitalization of the merged entity is INR 995.18 billion (~USD 11.9 billion). The transaction also included a subscription by Groupe ADP to EUR 331 million in foreign currency convertible bonds issued by GIL in March 2023 and settlement of certain earn-outs and ratchets previously agreed between Groupe ADP and GIL.

The S&R team was led by partners Rajat Sethi, Mohit Gogia, Lakshmi Pradeep and Meher Mehta, and included associates M.V. Abhinaya, Henal Shah, Shuchita Goel, Sakshi Jain and Rishabh Uppal on corporate matters; partner Jitesh Shahani on capital markets matters; Simran Dhir, head of competition practice, partner Akshat Kulshrestha and associate Anuja Agarwal on competition law matters; and partner Sumit Bansal and associates Shivani Chhabra and Taranjeet Singh on tax matters.