The world’s second largest airport operator, Fraport of Germany, is not going to exit the Delhi airport by selling its entire 10 per cent stake, as earlier reported by a section of the media. Joint venture partner GMR Group has denied the Germany-based Fraport is set to exit.
Some media reports had quoted senior officials of Fraport AG as stating they were in the process of selling their stake and expected the deal to be transacted by next June. In a media statement, the GMR Group has stated: “Under the terms of the agreement, the GMR Group has said, “any request for transfer of equity by Fraport can be considered after seven years i.e. after May 2013. Hence, at this stage, the GMR Group is not engaged in any discussion or negotiation with Fraport on this matter.”