GMR Airports Limited entered into a Sale and Purchase Agreement to acquire 11% stake in GMR Hyderabad International Airport Limited from Malaysia Airports Holdings Berhad (KLSE:AIRPORT) for $100 million on October 25, 2023. The transaction is expected to complete by the first quarter of 2024. The proceeds from the Proposed Disposal are intended to be utilized for capital expenditure, general corporate purposes and to defray the expenses in relation to the Proposed Disposal. As of January 17, 2024, Parties to the transaction entered into an amendment agreement to the Share Purchase Agreement. Pursuant to the Amendment Agreement, GMR Airports Limited will act as a buyer in place of GMR Airports (Singapore) Pte. Ltd.Trowers & Hamlins LLP acted as legal advisor to Malaysia Airports Holdings Berhad.

GMR Airports Limited completed the acquisition of 11% stake in GMR Hyderabad International Airport Limited from Malaysia Airports Holdings Berhad (KLSE:AIRPORT) on January 25, 2024. Jatin Aneja, Prashant Sirohi, Partner and Aditya Mitra of Shardul Amarchand Mangaldas & Co acted as legal advisor to GMR Airports. AZB & Partners acted as legal advisor to Malaysia Airports Holdings.