Symbiose acquires 49.99% stake in Toulouse Blagnac Airport

France officially handed (17-Apr-2015) over a stake of Toulouse Blagnac Airport to the Chinese-led Symbiose consortium in an agreement worth around EUR308 million. The state official gazette noted that the Chinese consortium, comprising Chinese state-owned group Shandong Hi-Speed Group and Hong Kong-based investment firm FriedmannPacific Asset Management, henceforth owns 49.99% of the airport. Toulouse Blagnac Airport president Jean-Michel Vernhes commented: "It is a new page in the history of our airport that is being turned. Symbiose will give newlife to the development of our platform. This evolution is a continuity of the work accomplished over the last few years by the employees of the Toulouse Blagnac airport, and who are committed to the success of the Symbiose project, and the economy of the region". Symbiose aims to raise Toulouse air traffic to 18 million passengers by 2046, up from 7.5 million in 2014, stating: "The Symbiose project aims to provide the airport and the Toulouse region with a new impetus for development and growth". [more - original PR - French]