Sunday 20 January 2019

French group acquires major stake in Jordan's AIG

AMMAN, April 22, 2018

International airport operator Groupe Aéroports de Paris (ADP) has completed the acquisition of a controlling 51 per cent stake in Airport International Group (AIG), operator of Queen Alia International Airport in Amman, Jordan.

The announcement came during a press conference, which involved a tour of the airport, held at Queen Alia International Airport (QAIA), in the presence of Jordanian Minister of Transport and Municipal Affairs Eng. Walid Masri; Muhannad Shehadeh, Jordanian Minister of State for Investment Affairs and chairman of the Jordan Investment Commission (JIC); Groupe ADP chairman and CEO, Augustin de Romanet; ADP International chief international officer and the new chairman of Airport International Group, Fernando Echegaray; Airport International Group CEO, Kjeld Binger, and several representatives of the local and international media.

Groupe ADP, which offers expertise in international airport investment and operation, with airports such as Paris-Charles de Gaulle Airport among its enterprises, has owned a 9.5 per cent stake in Airport International Group via a subsidiary since 2007, when Airport International Group was awarded a 25-year Build-Operate-Transfer (BOT) concession agreement to rehabilitate, expand and operate Queen Alia International Airport through an $850 million public-private partnership (PPP) plan.

With this acquisition, Groupe ADP now owns 51 per cent, with the remaining shares distributed among Meridiam Eastern Europe Investments – 32 per cent, Mena Airport Holding Ltd. – 12.25 per cent and Edgo Investment Holdings Ltd. – 4.75 per cent.

Following the completion of the acquisition, Groupe ADP will be implementing strategies in the near future to further enhance the services and traveller experience offered at QAIA. Its top priorities will be integrating QAIA routes into Groupe ADP’s broad network, managing extension and upgrading works and ensuring continuous advancement across all operations.

On behalf of Groupe ADP, Romanet said: “This new step is strategic for Groupe ADP as it serves to strengthen our ties with Jordan, and I extend my thanks to the Government of Jordan for its confidence and trust in us. Queen Alia International Airport is one of the best airports in the Middle East, and Groupe ADP, having already been a shareholder of Airport International Group through ADP International, has contributed to the superb performance and growth of the airport over the last 10 years. By acquiring control of Airport International Group, Groupe ADP will be able to fully spread its limitless know-how, expertise and offerings. Alongside our co-shareholders, Meridiam Eastern Europe Investments and Edgo Investment Holdings Ltd., we aim to reinforce the routes network, departing from Amman, and improve the quality of service for passengers and the performance of aeronautical and retail activities, for the benefit of all stakeholders. Lastly, a big part of our goal is to ensure sustainable and socially responsible operations and the continuous development of the infrastructure for the remaining duration of the concession.”

Binger said: “In recent years, Jordan has been in the global spotlight, evoking the interest of foreign investors with its investment-friendly environment and policies, which in turn, contributes to the kingdom’s economic growth. We are proud to be working with Groupe ADP, as they possess a repertoire of internationally acclaimed airports and worldwide experience in airport management. This step marks a pivotal moment in our journey with Queen Alia International Airport, as we aspire to build on the substantial success we have achieved thus far, and reach unprecedented levels of excellence and innovation in the years to come.” - TradeArabia News Service

Tags: Jordan | Stake | ADP | Amman | AIG |

More Travel, Tourism & Hospitality Stories

calendarCalendar of Events