Home > News >
CVC PREPARES BID FOR BARAJAS AND EL PRAT AIRPORTS MANAGEMENT.
The private equity firm CVC Capital Partners, is setting up in conjunction with AXA and Abertis the investment partnership that will bid for Barajas and El Prat airports management. The private equity fund acquired 15% of Abertis to ACS last summer (see news).
In Barajas’ airport case, the winners will have to face an initial minimum payment of €3,700 million which would be supplemented by a 20% annual fee of revenues during the 20 years of operation. In the case of El Prat, the minimum payout is €1,600 million. The consortium is open to a possible incorporation of new financial partners. Ferrovial on one side and GIP fund (owned by Credit Suisse and General Electric) on the other, could constitute two other potential consortium to participate in the bidding.
Bids must be submitted between October and November to continue with the contracts’ execution in order to start operations in the spring of next year.