Chinese-Hong Kong investors to sell stake in Toulouse Blagnac Airport
China Airport Synergy Investment Limited (CASIL) is reportedly planning to sell its 49.99% stake in Toulouse Blagnac Airport, located in the Haute-Garonne department in the Midi-Pyrénées region of France.
A joint venture that includes Chinese state-owned Shandong Hi-Speed Group and Hong Kong-based investment company Friedmann Pacific Asset Management, CASIL acquired the stake in March 2015 for EUR308 million (US$350.8 million) from the French government, who retained a 10% stake.
CASIL now wants to sell its stake as the French government has refused to sell its stake in the airport, denying CASIL the chance to hold overall majority ownership. The remaining stakes in the concession are held by the Toulouse Chamber of Commerce and various other local government bodies.
Located 6.7km north-west of Toulouse, the fourth-largest city in France, Toulouse Blagnac Airport served over 9.2 million passengers in 2017, up from 7.5 million in 2014. CASIL aimed to raise air traffic to 18 million passengers by 2046.
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