Vinci considers selling stake in Aeroports de Paris

Vinci is understood to be planning the gradual divestment of its stake in airport operator Aeroports de Paris, which it acquired in late 2007 for about €229m.

French group Vinci is considering the gradual divestment of its stake in Aeroports de Paris (AdP), the operator of Paris’ Charles de Gaulle and Orly airports, according to French media reports. 
 
Vinci bought a 3.3 percent stake in the airport operator in late 2007 for €229 million at an average of €70 per share. But AdP’s share price has taken a battering this year on the back of falling passenger numbers, with shares having fluctuated between €35 and €60 per share over the course of the year. November saw traffic falls easing but still down 1.3 percent in relation to the same month last year, with 11-month traffic down by 4.9 percent compared to the first 11 months of 2008.
 
In related news, Vinci Airports, the group’s airports unit, has won two regional airport concessions in Bretagne, in the north-west of France. The concession contract will be valid for 15 years and includes the operation of Rennes-Saint-Jacques and Dinard-Pleurtuit airports.  The winning consortium also includes CCI Rennes and CCI Pays de Saint-Malo, two regional authorities.