France's international airports operator has also set aside earn-outs up to Rs 4,475 crore linked to performance metrics as well as on receipt of certain regulatory clarifications over the next five years. The statement said if all the goals were met, GMR's valuation would reach Rs 26,475 crore on a post-money basis.
GMR will retain management control over the airports business, and Groupe ADP will have customary rights and board representation at GMR Airports
Ltd (GAL) and its key subsidiaries.
GAL operates and develops airports globally. The group currently operates five airports, including Mactan Cebu International Airport in the Philippines in partnership with Megawide.