China Everbright Limited (CEL) has announced that it has completed the acquisition of 100% shares in Tirana International Airport SHPK (TIA), after having signed the sale and purchase agreement in April this year.

The airport has been managed and operated by TIA since 23 April 2005 when it signed a concession period for 20 years. Additionally the concession agreement has been recently extended 2 more years, until 2027.

The consortium is composed of AviAlliance GmbH (47% of the shares), DEG Deutsche Investitions (31.7% of the shares) and the Albanian-American Enterprise Fund (AAEF), which posses the remaining 21.3% of the shares.

Tirana International Airport is Albania’s most important transport hub, and is one of the fastest growing airports in Europe. Number of passengers increased from 600,000 in 2005 to 2 million in 2015. The airport itself is a testimony to Albania’s rapid economic development.

CEL is experienced in the aviation industry and is the single largest shareholder of the Hong Kong-listed China Aircraft Leasing Group Holdings Limited.

China is currently Albania’s second largest trading partner. Chinese Premier Li Keqiang and Albanian Prime Minister Edi Rama have pledged to enhance infrastructure cooperation of the two countries at the fourth leaders' meeting between China and Central and Eastern European countries (“China-CEE Leaders’ Meeting”) held in November 2015. China supports domestic companies in actively participating in Albania’s economic development while Albania is keen to expand cooperation in agricultural trade and tourism and plans to streamline visa access for Chinese people.

Mr. Chen Shuang, Executive Director and CEO of CEL said:

“Thanks to the support of Albania government and TIA’s management team, CEL is delighted to have completed the acquisition of the Tirana International Airport. The acquisition is a proactive corporate approach to identify good infrastructure investment opportunities, which is in line with China’s ‘One Belt, One Road’ Initiative. It also signs the first move of China Everbright Overseas Infrastructure Fund which is in the process of establishing. With CEL's support and resources, TIA can further upgrade their facilities and hardware meeting excellence in all aspects. Also, leveraging on CEL's extensive networks in China, we believe that trading and tourism between the two countries will be further promoted. Therefore, this acquisition is of great significance and value.”

Mr Rolf Castro-Vasquez, CEO of TIA, said:

“We are thrilled to announce an era of transformation with China Everbright Limited. The current shareholders and all employees have proudly developed the airport and served its passengers, providing state-of-the-art facilities. We look forward to further growth under the new shareholder China Everbright Limited, by delivering what our travellers need and wish for.”