Metropole Nice Côte d'Azur is set to sell its 4% stake in the airport management company Group Aéroports de la Côte d'Azur (ACA) to Banque des Territoires. Metropole Nice Côte d'Azur owns a 5% stake in the ACA.

Metropole Nice Côte d'Azur announced their intention to sell 4% of their stake in March 2018. The 4% stake was estimated at that point at EUR 100 million (US$ 112.37 million) and it was expected that the buyer will be Azzurra Aeroporti (Benetton Group, EDF Invest, and Monaco), holder of the rest of the shares of ACA. But sale goes beyond the expectations and brings into play another partner, the Bank of the Territories.

The Métropole announced that it had entered into exclusive negotiations with this Caisse des Dépôts management for the sale of 4% of its shares in ACA and that the meeting with the Nice council for the terms of the agreement, particularly in terms of financing (EUR 81 million (USD 90 million) for 5,920 shares) was held last week. The meeting resulted in a favourable vote of metropolitan council. The Métropole will retain 1% share of the capital. The rest of the shares of the company are owned: 64% by the Azzurra Aeroporti consortium, which brings together Atlantia, EDF Invest and the Principality of Monaco, 25% by the Nice Chamber of Commerce, 5% by the Paca region and 1% by the Alpes-Maritimes department, which had itself recently been forced to sell 4% of its shares.

Aéroports de la Côte d'Azur is an airport group responsible for the operation and management of airports in Nice, Cannes-Mandelieu, and Saint-Tropez.