GMR Airports Ltd Subsidiary Acquires 60% Stake in GMR Terna Commercial S.A. for INR 6 Cr.

GMR Airports Greece Single Member S.A. (GAGSMSA), a wholly owned step-down subsidiary of GMR Airports Ltd, has incorporated and acquired 6,00,000 shares of Euro 1 each of GMR Terna Commercial S.A. (GTCSA), a limited liability company incorporated in Athens, Greece. This acquisition represents 60% of the paid-up share capital of GTCSA, amounting to Euro 6,00,000 or approximately INR 6 cr. GTCSA will be engaged in undertaking the non-aeronautical businesses at the Crete Airport, also known as New Heraklion International Airport at Kasteli, Greece. The proposed acquisition would strengthen the airport adjacencies/airport related businesses of GMR Airports Ltd. The transaction is not a related party transaction, and promoter/promoter group of the company does not hold any interest in the said transaction, other than their existing indirect shareholding in GAGSMSA. No governmental or regulatory approvals are required for the acquisition.