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Stock impact report

Billionaire G.M. Rao To Buy Part Of Groupe ADP’s Stake In India’s GMR Airports In $1 Billion Deal [Forbes]

Omnicom Group Inc. (OMC) 
Last omnicom group inc. earnings: 4/28 06:25 am Check Earnings Report
US:NYSE Investor Relations: investor.omnicomgroup.com
Company Research Source: Forbes
Under the deal, Groupe ADP—the operator of three Paris airports—will first sell a 3.4% stake in GMR Airports to GMR Group for €256 million, with an option to sell another 3.9% for about €285 million. GMR Group will also buy €301 million worth of bonds convertible into GMR Airport shares from ADP in a deal expected to be completed by March 2027, the Paris-listed ADP said in a statement released on Thursday. “Groupe ADP is taking the opportunity to crystallise part of the value of its investment, while maintaining a significant economic exposure to the future growth potential of this key asset,” Philippe Pascal, chairman and CEO of ADP said in the statement. Groupe ADP said that the share sale represents a valuation that is four times higher than its initial investment. The cash from the transaction will be used to reduce debt in the short term and may fund a special dividend as early as this year. After the deal is completed, ADP said it will keep its governance rights and remai Show less Read more
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