The share transfer of Almaty Airport took place on April 29th, 2021. Almaty Airport is now fully owned by the consortium of which TAV Airports is an 85% shareholder. Verno Capital, a specialist fund manager in the capital markets in Russia and the CIS[2], holds the remaining 15% stake in the consortium. The airport will be fully consolidated into TAV Airports' accounts and therefore in the accounts of Aéroports de Paris SA.
The previously agreed purchase price was $415 million. The current global crisis in the airline industry has led to submit a part of this purchase price ($50 million) to the condition of the achievement of a certain level of traffic at pre‑determined dates (earn-out scheme).
The airport of Almaty, Kazakhstan's economic capital, is the biggest airport in Central Asia: it welcomed approximately 6.4 million passengers in 2019, around half of which were from international routes. Kazakhstan, the biggest landlocked country in the world with 2.7 million square km, is the driver of economic growth in the region, and stands for 60% of Central Asia's GDP.
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ADP - Aéroports de Paris SA published this content on 29 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 April 2021 16:03:05 UTC.