TIRANA, October 7
Tirana International Airport (TIA) confirmed on Friday that all its shares have been acquired by China Everbright Limited (CEL), an international investment and asset management company based in Hong Kong.
“We are thrilled to announce an era of transformation with China Everbright Limited,” Chief Executive Officer of TIA Rolf Castro-Vasquez was quoted as saying in the press release.
He added that TIA is looking forward to growth under the new shareholder, by delivering what travellers need and wish for. However, no detail on the deal was included in the press rerelease.
On his part, Director and CEO of CEL Chen Shuang said that the acquisition is a proactive corporate approach to identify good infrastructure investment opportunities, which is in line with China’s ‘One Belt, One Road’ Initiative.
“Also, leveraging on CEL’s extensive networks in China, we believe that trading and tourism between the two countries will be further promoted. Therefore, this acquisition is of great significance and value,” he added.
TIA took over Rinas Airport in April 2005 and in 12 years it increased the number of passengers from 600,000 to 1.9 million. Since 2005, more than Euro 70 million have been invested in developing and expanding the Airport.
Meanwhile, an important amendment regarding the concession agreement was signed on April 1, 2016 between TIA and the Albanian government. It paves the way for the liberalization of international flights to Albania and the development of air transport.
It was also agreed to extend the concession period by two years, until April 2027, in exchange for the opening of Kukesi Airport to international flights.
Based on the information provided by TIA’s press release, CEL, established in 1997, is the international investment arm of the China Everbright Group, a diversified financial services company. CEL manages 33 private equity funds and has extensive experience in the aviation industry.
News Source/ Photo Credit: TIA