Tuesday, May 21th, 2013
abertis has reached an agreement with ACS to acquire Desarrollo de Concesiones Aeroportuarias (DCA), a holding company with stakes in 15 airports in Mexico, Jamaica, Chile and Colombia. The transaction involves acquiring DCA for a total of €270.8Mn.
This transaction bolsters abertis position in the airport business which it operates via the TBI group as an operating unit within abertis airports. In this sense the Group now holds stakes in 29 airports in eight countries where it handles 56 million passengers a year. With the acquisition of DCA (abertis 90% and TBI 10%) it shall become one of the largest operators in the world with a notable presence in Europe and America.
The pertinent approval from the Authorities, Partners and Financial Institutions is still pending, although the company does not foresee any problems. Morgan Stanley has published a fairness opinion on the transaction’s terms and structure.