Canada Pension Plan Investment Board (CPP Investments ) has agreed to buy another 1.59% stake in Aéroports de Paris (Groupe ADP ) from Royal Schiphol Group .

Upon deal completion, CPP will hold a 5.64% stake worth €791m in Groupe ADP.

The deal forms part of the ‘orderly disposal process of the 8% cross-shareholdings held by Aéroports de Paris and Royal Schiphol Group, respectively.’ 

This process is scheduled to conclude by 30 May 2023. 

As part of this process, Crédit Agricole Assurances acquired a further 2.5% stake in Groupe ADP earlier this month.

With this purchase, Crédit Agricole Assurances increased its stake in Groupe ADP to 7.73% and also became part of the Groupe ADP board.

Headquartered in Paris, Groupe ADP is a French airport operator that owns and manages Parisian international airports Charles de Gaulle Airport (CDG ), Orly Airport (Ory ) and Le Bourget Airport (LBG).

In addition, it owns stakes in 25 airports globally, which saw passenger footfall of 160 million last year.

Groupe ADP has also set a target to make 23 airports carbon neutral, including Parisian airports, by the end of this decade and transition towards carbon-neutral territory by 2050.

Meanwhile, in June, Air Liquide and Groupe ADP agreed to create a 50:50 joint venture (JV ) for developing hydrogen infrastructure at airports.

To support the shift to hydrogen, the new JV will provide engineering and services to airports in France and globally.