Log in
A+ A A-

AIA offers 1.1 billion euros for 20 year extension of Athens airport lisence

Athens International Airport SA (“AIA”) submitted a new offer to the Hellenic Republic Asset Development Fund for the 20-year extension of the concession agreement of Athens International Airport, which was approved by the Board of Directors of the Fund during its meeting today.

AIA’s updated offer provides for a total price of €1.382,600 billion, including VAT. The net proceeds from the privatization program amount to €1.115 billion. In order to endorse the new offer, HRADF took into account an independent evaluation, a fairness opinion on the fairness, from a financial point of view, of the financial consideration to be paid to the Fund in connection with the Transaction and the positive opinion of the Board of Experts.

The file on the extension of the Concession Agreement will be shortly submitted to the Court of Auditors for the anticipated pre-contractual audit. The completion of the transaction is subject to approvals by the competent European authorities and the Greek Parliament.

On behalf of HRADF, Eurobank Ergasias S.A. & Lamda Infrastructure Finance S.A. acted as financial advisors, Potamitis Vakris Law Firm and the legal firm Clifford Chance LLP acted as legal advisors, Steer Davies Gleave acted as a technical advisor, while KPMG Advisors S.A. acted as independent valuator and Nomura International plc acted as fairness adviser.