China Everbright Limited buys 100% of Mother Teresa Airport of Tirana

 China Everbright Limited buys 100% of Mother Teresa Airport of Tirana

 TIA (Tirana International Airport) reports that China Everbright Limited (CEL stock in stock code: 165.HK), an international investment and management company with assets located in Hong Kong, acquires 100% of the share capital of TIA.

"I am pleased to inform an era of change with China Everbright Limited," said Mr Rolf Castro-Vasquez, CEO of TIA. "The partners already on the run, AviAlliance, DEG and AAEF, as well as all employees have worked for the development of the airport and proudly served its passenger offering modern standards.

"We look forward to further developments with new partner China Everbright Limited, offering what our travelers need most, " he added.

Starting from 23 April 2005, the entire responsibility for the development, operation and management of Tirana International Airport Mother Teresa has been in the hands of Tirana International Airport SHPK (TIA), the partners AviAlliance GmbH (formerly known as HOCHTIEF AirPort GmbH) , DEG - Deutsche Investitions - und Entwicklungsgesellschaft mbH (DEG) and Albanian-American Enterprise Fund (AAEF).

CEO of CEL, Mr. Chen Shuang said that "With the support of the Government of Albania and the managerial staff of TIA, CEL is pleased to finalize the process of buying the Tirana International Airport. The acquisition constitutes a proactive corporate method to identify good investment opportunities in infrastructure that conforms to China's initiative on the Silk Road.

"It also marks the first movement of China Everbright Infrastructure Fund, which is in the process of the establishment. With the support and resources of CEL, TIA can further develop its facilities and equipment."

Also, with numerous connections to CEL in China, we believe that trade and tourism between the two countries and will promoted further. Therefore this acquisition has a special meaning and value," he said.

CEL, established in 1997, is an international branche of China Everbright Investment Group, a financial services company. CEL manages 33 private equity funds, and owns more than 8.7 billion dollars in assets under administration.

CEL has extensive experience in the aviation industry and is the largest partner of China Aircraft Leasing Group Holdings Limited with shares listed on the stock of Hong Kong (stock code: 1848.HK).

In 2005, TIA took on management tha Rinas airport with a passenger number of approximately 600,000. Twelve years later, showing a significant increase, the airport serves a number of more than 1.9 million passengers per year and is now a modern gateway to the country's changing image of Albania.

More than 70 million Euro have been invested in the development and expansion of the airport. On 1 April 2016, the Government of Albania and TIA signed an amendment to the Concession Agreement of TIA making thus a significant step towards the development of air transport and the liberalization of international flights in Albania.

Concession term of TIA was extended once for an additional two years untill April 2027, allowing thus the opening of Kukes Airport for international flights.

China Everbright Limited buys 100% of Mother Teresa Airport of Tirana  China Everbright Limited buys 100% of Mother Teresa Airport of Tirana Saturday, October 08, 2016 Rating: 5
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