» Aena new shareholders to acquire 21% of the company

As we have been informing, another step has been taken in the Aena privatisation process. Last Tuesday they announced the names of the Aena new shareholders who are creating the stable nucleus. Aena had 21% of the company reserved for three main shareholders which made up a big private stable nucleus in the public entity.

Thus, the new shareholders are Corporación Financiera Alba (subsidiary of Banca March), Ferrovial and the Children’s Investment Fund Management (TCI). Corporación Financiera Alba will be the largest private shareholder with 8% of the shares. Then, both Ferrovial and TCI will get 6.5% each.

ElMundo.es informed that November 12 is the date when Aena will go public. They will launch 28% of their share capital for private investors through an initial public offering (IPO). The Aena’s value that these investors have fixed is between 7,000 and 8,000 million Euros. This is far above the minimum price that Aena had fixed in 4,000 million Euros. In 2013 Aena got benefits by 700 million Euros, although the current debt is 11,394 million Euros. Before going public, Aena is to incorporate Luton airport in its balance. This is expected to add 60 million Euros to the Aena’s earnings.

The Aena new shareholders will require restructuring in the Aena’s board: 8 out of 15 members will continue to be State officials. Other 3 members will be chosen by the Aena new shareholders. Finally, other 4 members have been chosen to represent the rest of the capital, i.e. 28% for the IPO. These members are Fernando Abril Martorell, Simón Pedro Barceló, Eduardo Fernández Cuesta and Juan Ignacio Acha. Vargas will continue to be the Aena’s CEO.

The Balearic Islands

To this respect, MallorcaDiario informed that the Community Minister of Tourism for the Balearic Islands – Jaime Martínez – said it was very good news that a Balearic company like Corporación Financiera Alba gets into Aena. Also, he was very happy that one of the board members is a Balearic business man: Simón Pedro Barceló. Simón Pedro Barceló is one of the owners and board members of the Barceló Group which, in turn, owns Evelop Airlines.

The Canary Islands

On the contrary the Canary Islands keep being very reluctant to the Aena privatisation. ElDía informed that the Community Minister of development for the Canary Islands said they will continue to start legal actions against every step in the privatisation process.

Photo: Aena offices in Madrid / Luis García – Wikimedia Commons