Fraport AG has announced the divestiture of its interest in Delhi Airport (DEL), India. As per the agreement finalized today, September 9, Fraport is transferring its complete 10.0 percent shareholding in Delhi International Airport Limited (DIAL), the consortium responsible for managing the airport, to its principal stakeholder, GMR Airports Infrastructure Limited (GIL), for a total consideration of $126 million.
The Fraport Group has maintained its investment in Delhi Airport since the privatization of the capital’s gateway in 2006. Fraport anticipates that the transaction will be finalized within the next 180 days, pending approval primarily from the Airports Authority of India (AAI) and the shareholders of GIL. The proceeds from this divestiture will aid in further decreasing the Group’s net financial debt.
Dr. Stefan Schulte, the CEO of Fraport, remarked, “Following an 18-year successful partnership that has significantly contributed to the growth of Delhi, we are now poised to embark on a new chapter. We take great pride in the numerous milestones we have reached in collaboration with GIL. Together, we have enhanced and expanded Delhi Airport, establishing it as one of the premier air transportation hubs in Asia.” Notably, even after the divestiture, Fraport will maintain its support for operations at DEL through an existing Airport Operator Agreement. CEO Schulte added, “I am pleased that we will continue to support and remain connected with our partners in Delhi, even after the transaction is finalized.”