French construction group Vinci has finalised its €3.08 billion acquisition of ANA Aeroportos de Portugal, the airport operator which holds a 50-year concession for Portugal’s 10 airports, the company said in a statement.
The group of airports ANA operates on the mainland, the Azores and the Madeira archipelagos, handled more than 30 million passengers in 2012, 80 percent of which were international travellers. Over the past 10 years, passenger traffic has steadily increased at an average annual rate of 4 percent, according to the statement.
“This transaction is in line with Vinci’s strategy of building and developing, within Vinci Concessions, a leading international player in airport concessions,” the French company said.
The ANA acquisition means that Vinci Airports will be managing a total of 23 airports in Portugal, France and Cambodia, which, in 2012, handled more than 40 million passengers.
“Altogether, total revenue generated by these airports in 2012 would have been approximately €600 million, with an EBITDA of around €260 million,” Vinci said.
ANA’s chairman Jorge Ponce de Leão will maintain his post while the operator’s board of directors will comprise incumbent members as well as representatives appointed by Vinci.
For Portugal, the sale of ANA enabled the country to exceed its privatisation target for 2012, one of the requirements it had to meet as part of a bail-out package provided by the International Monetary Fund and the European Union. Portugal also sold 21.3 percent in energy retailer and producer EDP for €2.7 billion and a 40 percent stake in electricity distributor REN for €593 million.
The French construction and concessions group, which designs, finances, builds and operates infrastructure and facilities around the world, has also held an 8 percent stake in Aéroports de Paris since July.