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GMR-Groupe ADP deal for airport business receives Competition Commission nod

R Sinduja

News Editor

Competition Commission of India gave its nod for GMR group's proposed 49% stake sale in its airport business to French group ADP. The regulator's clearance allows for an automatic system for speedy approval of combinations, subject to certain conditions. GMR infrastructure said the French group will acquire 49% stake in airport business for Rs 10,780 crore. This deal will help the domestic entity reduce its debt burden.