Fraport AG, the German airport operator, has sold its 10% stake in Delhi International Airport Limited (DIAL) to GMR Airports Infrastructure Limited (GIL) for USD 126 million. This divestiture marks the end of a long-standing partnership that began in 2006 and reflects Fraport’s strategic shift towards focusing on other business priorities. The transaction is expected to be finalized within the next 180 days, subject to regulatory approvals.
Asda CFO Michael Gleeson reassures that the supermarket’s shareholders remain dedicated to long-term growth, despite reports of one of the Issa brothers seeking to sell his stake. The company reveals strong financial performance, with sales rising and earnings jumping in 2023. Asda plans to expand its store network, opening 500 new express convenience stores by year-end, primarily through the acquisition of petrol station forecourts. However, the supermarket’s market share has declined since the takeover in 2021, and it faces competition from discounters Aldi and Lidl.
