23-Jul-2013 11:45 AM

abertis to sell airport assets in Europe and the US to ADC & HAS Airports Worldwide

TBI, 90% owned by abertis and 10% by Aena Internacional, signed (22-Jul-2013) an agreement with ADC & HAS Airports Worldwide for the sale of Belfast International and Stockholm Skavsta airports, as well as the Orlando Sanford (Florida) airport terminal concessions and TBI’s airport management business in the US. The transaction amounts to EUR284 million in cash, of which abertis will receive 90% according to its stake and Aena will receive 10%. The transaction includes the purchase of 100% of the shares in Belfast International Airport, 90.1% of the shares in Stockholm-Skavsta Airport and 100% of the shares in the concession to operate Orlando Sanford Airport. Also included in the acquisition are 100% of the shares of TBI Airport Management, which has operating contracts for various airports including Concourse E and the Maynard Jackson International Terminal at Hartsfield-Jackson Atlanta International Airport; Bob Hope Airport; the Middle Georgia Airport; Macon Downtown Airport, and Raleigh Durham International Airport’s terminal 2. ADC & HAS is a privately-held company whose sole business is investing in, developing and operating airports worldwide. It currently owns 48.75% of the shares in San Jose Juan Santamaria International Airport and 45.0% of the shares in the concession to develop and operate Daniel Oduber International Airport serving Costa Rica’s growing Guanacaste tourist region. The acquisition is subject to customary regulatory approvals and closing conditions. abertis said the transaction forms part of its strategy to continually manage its portfolio in order to optimise its asset base, is pending approval by local authorities (who are minority shareholders) in the case of Belfast and Skavsta. In respect of the US-based assets, the sale is subject to authorisation by the anti-trust authorities and will proceed providing no opposition is raised by the Committee on Foreign Investment in the United States (CFIUS). The airports sold to ADC & HAS Airports Worldwide have formed part of abertis' portfolio since 2005, when the company and Aena Internacional purchased the British operator TBI. AZ Capital and Citi have advised abertis in the deal while ADC & HAS was advised by HSBC Bank plc and O’Melveny & Myers LLP as financial and legal advisors respectively. DUP Member of the Assembly’s Enterprise, Trade and Investment Committee Robin Newton welcomed (22-Jul-2013) the successful conclusion of the business deal on the Belfast International Airport, stating: “I am pleased the rumours around the deal have been finally quashed and that a successful outcome has been achieved. It is vitally important to provide improved air links across the globe for the development of the local economy. Attracting inward investment opportunities can be increased with easier worldwide connections to Belfast. The overall potential of our tourism product will be positively affected if these international air links get better".  [more - original PR - arbertis] [more - original PR - DUP Member of the Assembly’s Enterprise, Trade and Investment Committee] [more - original PR - TBI] [more - original PR - ADC & HAS

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