Deals

ADP Cuts Stake in India’s GMR Airports in $1 Billion Deal

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By Baiju Kalesh, Dinesh Nair, Sanjai P R, and Vinicy Chan

April 23, 2026 at 4:41 PM UTC

Updated on

April 24, 2026 at 5:33 AM UTC

ADP, the operator of the main Paris airports, agreed to sell up to 7.3% of India’s GMR Airports Ltd. as part of a deal worth as much as €924 million ($1.08 billion).

The French group agreed to sell the stake to a vehicle connected to GMR’s founding family in a multistage deal, according to a statement confirming an earlier Bloomberg News report. ADP will sell 3.4% of its shares for €256 million and receive a put option to sell an additional 3.9% for about €285 million.