AI Airports International Limited
EANS-News: AI Airports International Limited
AI Completes Deal to Restructures
Investment in Parma Airport
St Helier, Jersey, Channel Islands (euro adhoc) -
Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement.
Strategic management decisions
Jersey/Vienna July 28, 2010 - The Board of AI Airports International Limited (AI) announced today that it has completed a transaction to restructure its investment in SO.GE.A.P. - Aeroporto di Parma Società per la Gestione S.p.A., owner and operator of the Giuseppe Verdi Airport in Parma, Italy (Parma Airport). This transaction replaces all previous obligations of AI in the Parma Airport.
In exchange for the elimination of previous agreements, particularly in respect of future funding obligations, AI provided an additional EUR 15.5 million of equity to fund the current and future operational and capital requirements of the Parma Airport. As previously reported, these prior contingent investment obligations potentially totalled in excess of EUR 100 million. AI also agreed to lend EUR 4.5 million on commercial terms for the development of a possible new terminal to service the expansion of the airport.
The new agreements with SO.GE.A.P. will allow AI to reinvigorate its efforts to sell its 68 % ownership in the Parma Airport. AI has commenced its efforts to do so with immediate effect.
end of announcement euro adhoc
Further inquiry note:
Investor Relations and Public Relations
Metrum Communications
Mick Stempel
T: +43 1 504 69 87-385
M: m.stempel@metrum.at
Branche: Real Estate
ISIN: AT0000A053N4
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Börsen: Wien / Third Market