Dutch airport management company Royal Schiphol Group (RSG) has concluded the buy back of its 8% interest in French airports operator Aéroports de Paris (Groupe ADP) for €420m.
The deal included the purchase of 14,892 shares held by Groupe ADP.
This transaction “marks the last step in the unwinding of the cross-shareholding which was in place since 2008.”
At the start of this month, RSG sold its remaining 3.9% stake in Groupe ADP.
It involved the sale of around 3.87 million shares at €133 apiece.
The proceeds from the deal will enable Groupe ADP to “selectively seize potential international development opportunities while pursuing its debt reduction path, targeting a net debt ratio of 4.5 to 5 times EBITDA by 2025.”
This year in November, Canada Pension Plan Investment Board (CPP Investments) agreed to purchase another 1.59% stake in Groupe ADP from RSG.
CPP will hold a 5.64% stake worth €791m in Groupe ADP after the deal is concluded.
During the same month, Crédit Agricole Assurances bought a further 2.5% stake in Groupe ADP, as part of this process.
Groupe ADP is the owner and manager of 14 civil airports and airfields in the Île-de-France (Paris) area.
With headquarters in the 14th arrondissement of Paris, Groupe ADP manages major airports such as Charles de Gaulle International Airport, Orly Airport and Le Bourget Airport.
