This will raise Crédit Agricole Assurances’ holding in the airport operator to 7.73%.
Furthermore, the company will secure a seat on the Groupe ADP board.
The deal is “part of the orderly disposal process of the 8% cross-shareholdings held by Aéroports de Paris and Royal Schiphol Group, respectively.”
Based in France, Groupe ADP is engaged in the development and management of airports, including Paris-Charles de Gaulle, Paris-Orly, and Paris-Le Bourget.
Via its brand Paris Aéroport , the group handled over 41.9 million passengers and 2.1 million metric tonnes of freight and mail at Paris-Charles de Gaulle (CDG ) and Paris-Orly (Ory ) airports last year.
The company also handled more than 118.1 million passengers in airports abroad.
Currently, Groupe ADP is pursuing its plan to upgrade its terminal facilities and service quality and also aims to develop its retail and real estate businesses.
It generated revenues of €2.7bn last year.
To support the transition to hydrogen, the JV will provide engineering and services to airports in France and worldwide.