Spanish infrastructure company Abertis has sold its stakes in Montego Bay and Santiago de Chile airports, completing the company’s divestment of all its airport business.
Abertis agreed to sell its full stake in Desarrollo de Concesiones Aeroportuarias (DCA) to Grupo Aeroportuario del Pacífico (GAP) for €177 million ($191 million). Net book gains generated from the transaction amount to €40 million.
DCA owns a 17.5% stake in MBJ, concessionary of Jamaica’s Montego Bay Airport, and a 14.77% stake in SCL, which operates Santiago de Chile Airport. The sale means that Abertis no longer holds any airport assets in its portfolio and has withdrawn from this business area.
Divestment of the company’s airport business started in 2013 with the sale of Cardiff and Belfast International airports in the UK, Stockholm Skavsta Airport in Sweden, and the terminal concessions at Orlando Sanford Airport in the US. All four airports were operated by Abertis/AENA joint venture TBI, and Abertis also sold TBI’s airport management business in the US in the same year. In November 2013, Abertis sold its stake in London Luton Airport (UK), and in December 2014 it sold its stake in GAP, which operates 12 airports in Mexico.