Global Market Updates

Airport Operators & Concessions • Global Market Update • May 2015

Jamaica - Apr. 22/15 - Abertis 74.5% Shares in MBJ Sold to GAP

Majority shareholder of MBJ Airports Ltd. (MBJ), Abertis Infrastructure (Spain), announced sale of its 74.5% stake in MBJ, which holds a 30 year concession for Montego Bay Airport (expiring 2033) to Mexican operator Grupo Aeroportuario del Pacifico (GAP). The US$190m deal, includes a 14.77% per cent stake in SCL Terminal Aereo Santiago SA, operator of the int’l terminal in Santiago, Chile (expires) Sept. 30/15. Vantage Airports holds the remaining 25.5% MBJ shareholding.

Jamaica - Apr. 21/15 - Five Consortia Short-listed/Pre-qualified for KIN

The Jamaican government has launched a proposal call process for Kingston Airport. The RFQ stage has just concluded, with 5 consortia from Europe, Asia and South America being short-listed, however the names/members of the consortia have not yet been published.

Brazil - Apr. 19/15 - Portion of 24.4% Shares in GRU Liquidating

Brazilian engineering firm OAS has put its 24.4% stake in Invepar, the concession company operating São Paulo - Guarulhos, up for sale. Brookfield Resources (Canada) has granted an emergency loan of R$800m (~US$265m) to OAS and is expected to receive a piece of the OAS 24.4% shareholding in Invepar, as collateral.

Brazil - Apr. 19/15 - Shares in BSB & NAT up for Sale at US$400m

Engevix construction put its participation in the Inframérica, consortium, which operates the airports of Brasilia and Natal (greenfield), up for sale. A empresa espera obter cerca de R$ 400 milhões com o pacote, mas a venda não deve ser fácil. The company expects to raise ~US$400 million with the sell-off.

India - Mar. 19/15 - Latest Round of Indian Airport Privatizations Delayed

The Indian government issued a Request for Qualifications (RFQ) in late 2014 for operation, management and development of four tier two Indian airports (Chennai, Kolkata, Jaipur and Ahmedabad). In mid-March, the process was delayed, reportedly due to employee, land use and development fees issues.

Brazil - Mar. 11/15 - Next Batch of Brazilian Privatizations in the Works

The Brazilian government recently announced plans to auction off 11 second tier airports, following a similar process conducted in 2012/13. Although not yet confirmed, Salvador (Bahia state), Florianópolis (Santa Catarina), and Porto Alegre(Rio Grande do Sul) are assumed to be amongst those airports included in the next round of privatizations.

Philippines - Feb. 16/15 - Six Philippine Airports on the Market

The Philippine government issued a Project Information Memorandum (PIR) in late 2014 to gauge market interest for concession/privatization of six regional Philippine airports; Bacolod-Silay, Iloilo, Laguindingan, New Bohol - Panglao (greenfield), Puerto Princesa and Davao, in two packages of three airports each. The combined development value of these six airports is estimated at ~US$2.6B.