Royal Schiphol Group today announced the sale of its remaining stake in Aéroports de Paris ("Groupe ADP").
This sale represented approximately 3.91% of Groupe ADP's capital, i.e. 3,869,859 shares. It was carried out by way of an accelerated book-building (ABB) at a price of 133 euros per share.
On this occasion, Groupe ADP bought back 296,882 shares, i.e. approximately 0.3 % of the share capital, at a unit price of 133 euros.
The settlement is expected to take place on or around December 8th, 2022. This share buyback, amounting to c. 39.5 million euros, is financed with Groupe ADP's available cash. It was carried out within the framework of the share buyback program authorized by the 6th resolution voted by the General Shareholders' Meeting of May 17, 2022. It is intended to cover any allocation of Groupe ADP performance shares and/or allocation of shares in the context of an employee shareholding operation.
Following the ABB, Royal Schiphol Group no longer holds any shares in Groupe ADP.
In accordance with an Exit Agreement concluded between the parties on December 1, 2008, Royal Schiphol Group will repurchase shares held by Groupe ADP in Royal Schiphol Group, which will mark the end of the process of unwinding the cross-shareholdings with Royal Schiphol Group.
The proceeds from this transaction benefitting to Groupe ADP amount to c. 420 million euros. They will enable Groupe ADP to selectively seize potential international development opportunities while pursuing its debt reduction path, targeting a net debt ratio of 4.5 to 5 times EBITDA by 2025.
