The group is looking to close the deal before the end of the year to acquire a majority stake in Airport International Group, the concession company for the airport in the Jordanian capital Amman.
Meridiam, investing through one of its European funds, and Bahrain-based ASMA will be joining as new equity partners in the project, while ADP has held a 9.5 percent share since the PPP reached financial close in 2007. Abu Dhabi Investment Company, Kuwait’s Noor Financial Investment Company, EDGO Investment Holdings and construction firms J&P-AVAX and Joannou & Paraskevaides are the other current equity holders.
The $700 million project received financial backing from the International Finance Corporation and the Islamic Development Bank. Passenger numbers grew by 4.4 percent last year to 7.4 million, although the site experienced only nominal growth in 2015.
The move would be Meridiam’s third airport deal in recent months, after the French firm formed part of a winning consortium to build and finance a $1 billion terminal at Kansas City International Airport in September, in addition to its €215 million expansion of two airports in Madagascar, agreed in July. It is also in one of four consortia in the running for Belgrade’s Nikola Tesla airport, a process that has suffered from repeated delays and for which the deadline for final bids is in two weeks.