ADP, the French operator of Paris's main airports, is preparing to reduce its ownership in India's GMR Airports Ltd., people familiar with the matter said. The Paris-based group plans to sell its stake in phases, according to the sources, who requested anonymity because the information remains private.

The stake will be sold back to a vehicle connected to GMR's founding family, the people added. ADP acquired its position in GMR Airports as part of a strategic partnership that gave the French airport operator exposure to India's rapidly growing aviation market over the past decade.

This transaction would mark ADP's exit from a significant Indian investment at a time when India's airport sector is experiencing robust expansion driven by rising passenger numbers and government infrastructure spending. The deal structure, involving a sale back to the founding family rather than a public market disposal, suggests an orderly transition of ownership rather than a distressed exit.