To two of its current shareholders for 28.2 million dollars
Airports are still a strategic business for Ferrovial: it manages airports in Australia, the UK and Chile which handle over 30 million passengers per year.
Ferrovial has sold its 24.5% stake in ITA (Inversiones y Técnicas Aeroportuarias), which owns 15% of Aeropuertos del Sureste of México, to two other shareholders of ITA (11% to Copenhagen Airport and 13.5% to local investor Fernando Chico Pardo) for 28.2 million dollars (22.3 million euros).
Although Ferrovial´s participation in airport group ITA has been decisive since the latter´s incorporation, it was not large enough to enable Ferrovial to directly manage ITA´s strategic decisions and development, which is why Ferrovial has divested those assets.
In 1998, Inversiones y Técnicas Aeroportuarias (ITA) obtained a 50-year concession to manage nine airports in South East Mexico, including Cancun. ITA also advised the Mexican government on the IPO of Aeropuertos del Sureste de México, which is listed on the New York and Mexican stock exchanges. ITA´s ownership structure is now as follows: Copenhagen Airport (36.5%), Fernando Chico Pardo (38%) and Nacional Financiera, S.N.C. (25.5%), the latter controlled by the Mexican government.
Airport management -a strategic business for Ferrovial
Private-sector airport infrastructure development is a strategic business for Ferrovial. After this deal, Ferrovial is still actively involved in airport management: Sydney (Australia), Bristol and Belfast (the UK) and Antofagasta (Chile), handling over 30 million passengers.
After five years in this activity, Ferrovial has attained a significant presence in the airport privatisation market in terms of invested equity (over 300 million euros) and the soundness of its investments. Its portfolio includes one of the worlds principal hubs (Sydney) and two major regional airports in the European Union (Bristol and Belfast).