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Odinsa acquires stake in Mariscal Sucre International in Ecuador

Left: Victor Manuel Cruz Vega, president of Odinsa

 

Columbian engineering firm Odinsa has acquired a 45.5% stake in Quiport, the concession company operating Mariscal Sucre International Airport in Quito, Ecuador.

Odinsa acquired its stake from Canadian construction firm Aecon, which developed the airport as part of a 50/50 joint venture with Brazilian conglomerate Andrade Gutierrez Constructores. The transaction will generate approximately US$195m for Aecon following transaction costs and cash taxes.

Teri McKibbon, president and CEO, Aecon Group, said, “We are very pleased to have finalized the sale of our interest in the Mariscal Sucre International Airport project and thank all of our partners for their collaborative efforts. This landmark public-private partnership is of particular pride for Aecon and illustrates our successful work on large-scale, turnkey projects.”

Victor Manuel Cruz Vega, president of Odinsa, said, “Investing in Mariscal Sucre Airport allows us to position ourselves as an operator of airport concessions in Latin America, which is directly aligned with our strategy. In this way, we will implement our experience gained from Bogota’s El Dorado Airport, in a market with very positive prospects for the future.”

December 11, 2015





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