Groupe ADP has finalised the transaction to take a controlling stake in AIG.

Group ADP has confirmed it has taken a controlling stake (51%) in Queen Alia International Airport (QAIA) concessionaire Airport International Group (AIG).

The expected transaction, first reported by TRBusiness in November, enables long-term shareholder Groupe ADP [currently holding a 9.5% stake – Ed]  to fully consolidate the concessionaire’s financial returns.

According to an announcement, the move will improve the quality of the Amman-based airport’s retail services.

“The objectives are to reinforce the air network departing from Amman, improve the quality of service offered to passengers and the performance of aviation and retail activities, and, at last, ensure a sustainable and socially responsible development during the remaining duration of the concession (until 2032),” it stated.

NEW CO-SHAREHOLDERS

A new co-shareholding setup including investment funds Meridiam and IDB Infrastructure Fund II will join current co-shareholder Edgo to drive Groupe ADP’s investment of $265m.

Groupe ADP has played an important role in the growth of QAIA for more than 10 years.

Over that time, the Jordanian hub has enjoyed year-on-year passenger traffic growth of +6.5%, with capacity rising to 12m passengers upon the extension of its new terminal in 2016.

Last year, QAIA handled 7.9m passengers (+6.8%) and posted higher growth in the first three months of this year (+8.5%) to 1.8m.

Groupe ADP develops and manages Paris-Charles de Gaulle, Paris-Orly and Paris-Le Bourget airports.

In 2017, the group handled more than 127 million passengers in airports abroad through subsidiary ADP International.