Monaco to join winning consortium for Nice airport privatisation

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Monaco to join winning consortium for Nice airport privatisation

Monaco plans to aquire 12% stake of the winning consortium for Nice Côte d'Azur Airport privatization that would represent a 5% of the total airport's capital.

The cost of this transaction is expected to reach €150 million (US$165 million) and, according to sources, Monaco plans to rename the regional air hub as Nice-Monaco or Nice Monte-Carlo.

As we reported in early August, the French government selected an Atlantia Invest-EDF consortium for the privatization of the airport of Nice Côte d'Azur. The total value of the first transaction, whereby the consortium acqured 64% stake in the airport, totaled €1.22 billion.

Nice Côte d'Azur Airport (2014 turnover: €231.6 million) is valued at approximately €1.5 billion (US$1.672 billion). It is an international airport located 5.9 km southwest of Nice, in the Alpes-Maritimes department of France. It is the third busiest airport in France. In 2013, it handled 11.55 million passengers. The airport's theoretical capacity is 13 million passengers and 52 movements (26 landings) per hour.

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