Groupe ADP’s agreement to acquire 49% of GMR Airports for around €1,360 million comes after the latter had been assessing suitors that included Tata (the giant diversified Indian conglomerate), GIC (Singapore’s foreign investment fund), and SSG Capital Management, through a consortium. The swoop by France’s Groupe ADP – through a conditional share purchase agreement – means that GMR Airports will be jointly owned by listed company, GMR Infrastructure Limited (GIL), part of GMR Group; and Groupe ADP, also listed. The respective stakes will be 51% and 49%. The two-part deal – a first-phase buy-in of 24.99% taking place around now, and the second for 24.01% in the coming months (subject to regulatory conditions) – fits well with Groupe ADP’s ambition to have a truly global footprint and revenue stream.