Canadian construction firm SNC-Lavalin Group has completed the sale of its indirect ownership in Malta International Airport to Flughafen Wien, the operator of Vienna International Airport in Austria, for €64m (US$73m).
SNC-Lavalin previously held a 38.75% interest in Malta Mediterranean Link Consortium Limited (MMLC), which in turn has a 40% interest in Malta International Airport.
MMLC was formed in 2001 for the exclusive purpose of bidding on the Malta Airport privatization project initiated by the government of Malta. As a result, SNC-Lavalin had held an indirect 15.5% interest in the airport, which is being run under a 65-year concession agreement.
Chantal Sorel, managing director, SNC-Lavalin Capital, said, “We are proud to have helped develop and grow Malta Airport into a world-class facility that serves millions of airline passengers annually and, as the only airport in the country, provides a vital service that will continue to deliver enduring benefits to the people of Malta. Our active involvement in Malta Airport demonstrates SNC-Lavalin’s full lifecycle expertise and ability to create significant value with our long-term strategic customer focus. The sale of our interest in Malta Airport also reflects our focused and active approach to managing our asset portfolio that optimizes shareholder returns once the company’s strategic objectives have been achieved.”
