Vinci: says not necessarily candidate for ADP takeover

(CercleFinance.com) - In an interview with Les Echos today, Xavier Huillard, Vinci's Chairman and CEO, particularly discussed Vinci's (conditional) interest for Aéroports de Paris (ADP), which is now being privatised.


Having had a stake in ADP for some ten years, the construction and concessions group currently has an 8% stake, while the French State has 50.6%. Vinci's airport concession division, Vinci Airports, has grown rapidly in recent years - both thanks to organic and external growth.

In Les Echos, Mr. Huillard, irritated by what he calls "Vinci bashing", confirms his interest in ADP, although not in all conditions. He said that the group will not necessarily be a candidate for the takeover of ADP, he said. The conditions: that Vinci can play the role of a "true industrial partner," which would therefore pass through a significant stake in the group's capital and a role in its governance, so - in essence - will be able to act on investments and costs.

Moreover, as announced, Vinci will take control of London's Gatwick Airport, adding that Gatwick has proven that there are other opportunities in the world, with ADP not the only one, and that Vinci will have other opportunities. However, France will have lost the opportunity to create a national champion against the major airport hubs of emerging countries, Mr Huillard added.



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