China Everbright Limited acquires 100% of the shares in Tirana International Airport (TIA)

Tirana International Airport (TIA) announces that China Everbright Limited (CEL, stock code: 165.HK), an international investment and asset management company based in Hong Kong, has acquired 100% of the shares in TIA.

“We are thrilled to announce an era of transformation with China Everbright Limited,” said Mr Rolf Castro-Vasquez, Chief Executive Officer of TIA. “The current shareholders, AviAlliance, DEG and theAAEF, as well as all employees have proudly developed the airport and served its passengers, providing state-of-the-art facilities. We look forward to further growth under the new shareholder China Everbright Limited, by delivering what our travellers need and wish for,” he added.

Since 23 April 2005, the overall responsibility for the development, operation and management of Tirana International Airport Nënë Tereza has been in the hands of Tirana International Airport SHPK(TIA), with shareholders comprising AviAlliance GmbH (formerly HOCHTIEF AirPort GmbH), DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG) and the Albanian-American Enterprise Fund (AAEF).

“Thanks to the support of Albania government and TIA’s management team, CEL is delighted to have completed the acquisition of the Tirana International Airport. 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. It also signs the first move of China Everbright Overseas Infrastructure Fund which is in the process of establishing”, said Mr. Chen Shuang, Executive Director and CEO of CEL. “With CEL’s support and resources, TIA can further upgrade their facilities and hardware meeting excellence in all aspects. 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.

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, holds more than USD8.7 bn in assets under management. CEL has extensive experience in the aviation industry, and is the single largest shareholder of the Hong Kong-listed China Aircraft Leasing Group Holdings Limited (stock code: 1848.HK).

In 2005, TIA took over Rinas Airport when it handled about 600,000 passengers. Twelve years later, demonstrating significant growth, the Airport provides services to more than 1.9 million passengers annually and is now a modern gateway to the country, changing the image of Albania. Since 2005, more than EUR 70 million have been invested in developing and expanding the Airport. On 1 April 2016, the Government of Albania and TIA signed an amendment to the Concession Agreement of TIAand took a major step towards the development of air transport and the liberalisation of international flights in Albania. The Concession Period of TIA was immediately extended by two years, i.e. until April 2027, in exchange for the opening of Kukës Airport to international flights.