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| Vinci acquires Portuguese airports concession company French construction and concessions company Vinci has finalised the acquisition of ANA, the company that holds a fifty-year concession for Portugal's 10 airports. This is the final step in the privatisation process that was launched by the Portuguese government and approved by the European Commission in June 2013. In terms of enterprise value, the transaction is worth €3.08 billion. ANA is a group of airports located on the continent (Lisbon, Porto, Faro and Beja), in the Azores (Ponta Delgada, Horta, Flores and Santa Maria) and in Madeira (Funchal and Porto Santo). Combined, they handled more than 30 million passengers in 2012, of which approximately 80% were international. Passenger traffic has increased at an annual average rate of over 4% for the past 10 years, a momentum that continued with a 3.8% increase in traffic during the first half of 2013 and a very good summer holiday season. Mr Jorge Ponce de Leão will remain as Chairman of ANA's Board of Directors, which will comprise incumbent members as well as representatives appointed by Vinci. This transaction is in line with Vinci's strategy of building and developing, within Vinci Concessions, a leading international player in airport concessions: with this acquisition, Vinci Airports will be managing 23 airports in Portugal, France and Cambodia, which have handled over 40 million passengers in total in 2012, including the 15-million-passenger-plus Lisbon hub. Lisbon offers an important advantage, thanks to its strategic position vis-à-vis high-growth destinations (Brazil and Portuguese-speaking countries in Africa). Altogether, total revenue generated by these airports in 2012 would have been approximately €600 million, with an EBITDA of around €260 million. Moreover, Vinci Airports holds an 8% stake in the capital of Aéroports de Paris since July 2013. write your comments about the article :: © 2013 Construction News :: home page |