Dutch airport management company Royal Schiphol Group (RSG) has divested its remaining 3.9% stake in French airports operator AĆ©roports de Paris (Groupe ADP).
The sale was executed via an accelerated book-building process, wherein around 3.87 million shares were sold at ā¬133Ā apiece.
In addition, Groupe ADP repurchased 296,882 shares or 0.3% of its share capital at ā¬133Ā per share as part of the transaction, with the buyback amounting to nearly ā¬39.5m.
Groupe ADP funded the buyback using available cash, with the settlement scheduled to occur on or around 8 December this year.
Once the deal is closed, RSG will make a full exit from Groupe ADPās share capital.
Last month, Canada Pension Plan Investment Board (CPP Investments ) agreed to purchase an additional 1.59% holding in Groupe ADP from RSG.
The transaction is part of the āorderly disposal process of the 8% cross-shareholdings held by AĆ©roports de Paris and Royal Schiphol Group, respectivelyā, a process expected to complete by 30 May 2023.
CPP will hold a 5.64% stake valued at ā¬791m in Groupe ADP once the transaction concludes.
In another recent move, CrƩdit Agricole Assurances, through its Predica unit, acquired a further 2.5% stake in Groupe ADP from RSG.
With this deal, CrĆ©dit Agricole Assurancesā stake in the airport operator will grow to 7.73%, with the company also joining the Groupe ADP board.
