Groupe ADP, the French airport operator, has announced a multi-stage transaction to sell up to 7.3% of its stake in GMR Airports Ltd, valued at approximately €924 million ($1.08 billion). The initial sale will involve a 3.4% stake for €256 million, with a put option to divest an additional 3.9% for about €285 million later. Despite this partial sale, ADP will maintain its co-promoter status and governance rights within the company. The proceeds from this transaction are intended for short-term deleveraging and to fund shareholder returns, including a proposed special dividend of €0.8 per share for the 2025 financial year. GMR Airports shares have seen a decline of about 10% this year, reflecting broader market trends. Citigroup Inc. acted as the financial adviser for ADP, with S&R Associates and Hogan Lovells providing legal advice.