State to sell 21% of AENA to JV

By Doug Newhouse |


The Spanish Government has agreed to sell 21% of AENA to Corporación Financiera Alba, Ferrovial and British investment fund TCI.
 

Leading Spanish newspaper El Pais and Reuters are both carrying the story this morning, reflecting the partial intended sale of the state-owned Spanish airports authority.

 

According to the reports, Corporación Financiera Alba is buying an 8% share, while Ferrovial and TCI are said to have agreed to buy 6.5% stakes respectively. Media reports also suggest that another 28% stake will be made available in a public share holding.

 

Minister of Development, Ana Pastor is quoted yesterday as saying that this sale was necessary to ensure a viable future for AENA, although further details of the deal and the forthcoming IPO – expeced next month – are still sketchy at present.

 

THIS SALE HAS BEEN EXPECTED
The sale of state-owned Spanish airport authority Aena – which is the landlord at almost all of Spain’s airports began last August with a search for a “stable core of shareholders”, of no more than four companies.

 

As reported by TRBusiness.com at the time, public company Enaire – which owns Aena’s stock – made it clear then that it was looking to sell up to 21% of the share capital of the airport operator through a two-stage tender competition described as “a restricted procedure”.

The news was carried by the Spanish newsaper El Pais and other media late last night. For more background, click here.

 

[Top: Madrid Airport has proved to be a drag on AENA’s performance for quite some time now].

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