29-Oct-2013 12:34 PM

Spanish privatisation council recommends privatising 60% of AENA; searching for 3-5 investors

Spain's Privatisation Consultative Council (CCP) recommended (21-Oct-2013) the privatisation of up to 60% of airport operator AENA. The CPP recommended building a core group of three-to-five investors holding 20-30% of the operator, through individual shares of 5-10% each. Candidates would be invited to submit their bids, and the investors then selected from among the pool of candidates. An IPO would then be launched to bring the total amount of private capital in the operator to 60%. The CCP's recommendations were solicited by AENA and are now to go before Spain's Council of Ministers for approval before the privatisation process can begin, according to Europa Press. The Government cancelled its previous attempt to privatise AENA in 2011 due to the unfavourable investment climate at the time, and now faces the challenge of revitalising traffic at Madrid Barajas Airport to stimulate interest in the operator, as Barajas accounts for 20% of revenue. AENA is the world's largest airport operator in terms of passenger numbers and reported EUR2.7 billion in revenue in 2012 and EUR13 billion in debt. [more - original PR - Spanish]

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