A consortium led by TAV Airports, which is 46.38% owned by Groupe ADP, has concluded the acquisition of Almaty Airport (ALA) in Kazakhstan and the associated jet fuel activities.
In May last year, the consortium agreed to acquire 100% of the shares of Almaty Airport and the associated jet fuel activities for an enterprise value of $415m.
Due to the present global crisis faced by the airline industry in the wake of the Covid-19 pandemic, $50m will be submitted subject to the achievement of a certain level of traffic at pre-determined dates.
TAV Airports hold an 85% share in the consortium while the remaining 15% is held by VPE Capital, a specialist fund manager operating in Russia and CIS.
With the deal being completed, Almaty Airport will be entirely consolidated into accounts of TAV Airports and therefore also in the accounts of Aéroports de Paris.
Almaty Airport, which is the largest airport in Central Asia, served approximately 6.4 million passengers in 2019, of which approximately half were from international routes.
Groupe ADP develops and manages airports, including Paris-Charles de Gaulle, Paris-Orly and Paris-Le Bourget.
Through its brand Paris Aéroport, the group handled 33.1 million passengers and 1.8 million metric tonnes (Mt) of freight and mail at Paris-Charles de Gaulle and Paris-Orly last year. It also serves more than 96.3 million passengers in airports abroad.
In July last year, Groupe ADP completed the purchase of a 49% stake in GMR Airports, a unit of India’s GMR Infrastructure (GIL).