Brazil - Dec. 21/15 - Infraero Forgoes Equity Stake in Next Concession Round
Infraero, the Brazilian state-owned airport company which retained 49% equity stakes in the five first airports privatized by government will, reportedly, hold no shares for the upcoming privatization of Salvador, Fortaleza, Porto Alegre and Florianópolis airports - not even hold a “golden share” or reserved veto right. Sources say that Infraero is facing financial exhaustion as it struggles to meet its capital obligations for the five existing airports concessions.
Brazil - Dec 18/15 - Inframérica Announces Major Plans for Brasilia
Inframérica, the operator of Brasília (BSB) - Brazil’s second busiest airport, recently announced its ~US$250,000 plan to transform the BSB terminal. The project, which is not part of Inframérica’s concession commitments, includes over 300,000 square meters of new terminal space with 280 shops, 38 food and beverage outlets, two hotels (Wyndham Grand Collection and Tryp by Wyndham), two office buildings, movie theatres and a gym. The works are expected to take roughly two years to complete.
Dominican Republic - Dec 14/15 - Advent Poised to Sell its Full Stake in Aerodom to VINCI
Private equity firm Advent Int’l has signed an agreement to sell its full shares in Aeropuertos Dominicanos Siglo XXI, SA (Aerodom) to VINCI Airports. Aerodom, 100% owned by Advent, holds the concession for operation and development of six airports in the Dominican Republic, expiring in 2030. The transaction/transfer will likely take effect in the first quarter of 2016.
Vietnam - Dec 11/15 - Vietnam Sells Minority Shares in Airports Corporation
Airports Corporation of Vietnam (ACV) has raised US$49.6m through an Initial Public Offering (IPO) in which 25% of ACV shares were traded with 152 investors, including 16 institutional firms. The IPO proceeds will help fund Long Thanh Int’l, a new greenfield airport replacing Tan Son Nhat - Ho Chi Minh City airport. Completion of the first phase works is expected by 2025.
United Kingdom - Dec 10/15 - Manchester Initiates Terminal Transformation Plan
Manchester Airports Group (MAG) has launched a bidding process worth up to £500m in new construction - part of its comprehensive 10-year, £1b investment programme aimed at transforming Manchester Int’l Airport (MAN). The works, which will include ~50 new retail and food/beverage outlets, will more than double the Terminal 2 commercial area.
Greece - Dec 08/15 - Fraport Close to Inking Deal on Greek Regional Airports
Fraport and the Greek gov’t are expected to close the €1.2b deal for lease and management of 14 Greek regional airports by year end. The 40 year agreement (which includes an additional 10 year option) is expected to raise €3b for the Greek gov’t, nearly double that forecasted in 2016 budget but well short of the €3.7b EU/IMF bailout target.
United States - Dec 01/15 - LAX Announces Ground Transport PPP Plans
Los Angeles Airport (LAX) has announced plans to implement a new world-class transportation system, dubbed the Landside Access Modernization Program (LAMP), through a PPP model. At an estimated cost of ~US$5b, the LAMP will include an Automated People Mover connecting the Central Terminal Area with a new Consolidated Rent-A-Car facility.
Brazil - Dec 01/15 - Tentative Deal Reached for OAS Shares in Invepar-GRU
Creditors of OAS approved the sale of its 24.4% stake in Invepar, operator of São Paulo - Guarulhos Int’l Airport, to Canada’s Brookfield Asset Management Inc. in an attempt to stave off bankruptcy. The deal is reportedly conditional on Brookfield dropping plans to extend a USD$210m debtor-in-possession loan and providing, instead, a so-called “exit loan” of USD$158m.