A delay in a necessary approval by the EU’s Competition Committee (DG Comp) of a 20-year extension to the concession agreement for the Athens International Airport proved beneficial for the Greek state, with the ultimate compensation doubled.
The primary AIA shareholders – companies controlled by Canadian group PSP – along with Greece’s privatization agency (HRADF), the Greek state and the Copelouzos family on Thursday agreed with the management of the privatizations fund over the extension, which according to reports reaches 1.364 billion euros (VAT included). Well-informed sources cited the figure to “Naftemporiki” newspaper, which if confirmed, would be double the initial 600 million euros offered by AIA’s shareholders.
PSP, billed as Canada’s biggest pension investment managers, owns 40 percent of the airport’s shares, also holds its management.
The development, as “Naftemporiki” had reported, came after objections by DG Comp dating to September 2017. The latest extension contract is now expected to receive the Commission’s “green light”.
The contract extends the concession deal until 2046.
Read more at naftemporiki.gr
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