Abertis has reached an agreement with Grupo Aeroportuario del Pacífico (GAP) for the disposal of its full stake in Desarrollo de Concesiones Aeroportuarias (DCA).
Abertis has sold its stake in Montego Bay and Santiago de Chile airports for a net amount of €177 million (US$191.2 million). Net book gains generated from the disposal of this transaction, which is expected to be closed next April 20th, amount to €40 million (US$43.2 million).
Specifically, DCA owns a 74.5% stake in the company MBJ, concessionary of Montego Bay Airport, Jamaica, and a 14.77% stake in SCL, which operates Santiago de Chile Airport. Therefore, Abertis will no longer hold any airport asset in its portfolio and completes its exit of this business area.
The process of divestment of the airport business started in 2013 with the sale of Cardiff and Belfast International airports (United Kingdom) and Stockholm Skavsta (Sweden), as well as the Orlando Sanford (Florida, USA) airport terminal concessions and TBI's airport management business in the USA. Finally, in November 2013, Abertis completed the sale of its stake in Luton airport (United Kingdom) and in December 2014 the sale of its stake in Grupo Aeroportuario del Pacífico, which operates 12 assets in Mexico.Read more about the airport divestment process carried out by Abertis.