Abertis to sell Belfast and Stockholm airport stake to ADS & HAS

23 July 2013 (Last Updated July 23rd, 2013 18:30)

Spanish infrastructure firm Abertis has signed an agreement to sell its two European airports in Belfast and Stockholm to the US airport operator ADC & HAS for $374m, as part of a strategy to optimise its asset base.

Belfast International Airport

Spanish infrastructure firm Abertis has signed an agreement to sell its two European airports in Belfast and Stockholm to the US airport operator ADC & HAS for $374m, as part of a strategy to optimise its asset base.

The deal, which is pending approval by local authorities in Belfast and Skavsta, also includes terminal concessions at Florida's Orlando Sanford Airport terminal and the US airport management business of Abertis' TBI division.

The TBI management contracts being acquired under the deal include managing the 28-gate international terminal at Atlanta Hartsfield-Jackson Airport, in addition to contracts at Raleigh-Durham International in North Carolina, Bob Hope Aairport in California and Middle Georgia Regional Airport in Macon, Georgia.

Following the current transaction, Abertis will only own London Luton Airport in Europe, in addition to owning and managing airports in Latin America and the Caribbean.

"Abertis will only own London Luton Airport in Europe, in addition to owning and managing airports in Latin America and the Caribbean."

TBI is 90% owned by Abertis Infrastructuras and 10% owned by AENA Desarrollo Internacional.

Abertis announced that it was to sell a terminal at Cardiff airport for €61m in March.

ADC & HAS currently owns 48.75% stake in the Juan Santamaria International Airport in Costa Rican capital San Jose, and 45.0% stake in the concession to develop and operate the Daniel Oduber International Airport in Costa Rica.

ADC & HAS AIRPORTS WORLDWIDE President and CEO Jeff Scheferman said that the transaction will add two airports serving capital cities to the company's portfolio.

"We also expand and intend to further build upon our presence in the US market, add more than 350 experienced airport personnel, and will be serving more than 35 million passengers annually," Scheferman said.


Image: Abertis' Belfast International Airport in the UK.