Aeroports De Paris Announces Finalization Of Process Of Unwinding Cross-Shareholdings With Royal Schiphol Group
AEROPORTS DE PARIS:
ROYAL SCHIPHOL GROUP TODAY ANNOUNCED 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
STAKE SALE WAS CARRIED OUT BY WAY OF AN ACCELERATED BOOK-BUILDING (ABB) AT A PRICE OF EUR 133 PER SHARE
PROCEEDS FROM THIS TRANSACTION BENEFITTING TO GROUPE ADP AMOUNT TO C. EUR 420 MLN
ADP BOUGHT BACK 296,882 SHARES, I.E. APPROXIMATELY 0.3 % OF SHARE CAPITAL, AT A UNIT PRICE OF EUR 133
PROCEEDS WILL ENABLE ADP TO SELECTIVELY SEIZE POTENTIAL INTERNATIONAL DEVELOPMENT OPPORTUNITIES WHILE PURSUING ITS DEBT REDUCTION PATH
SHARE BUYBACK, AMOUNTING TO C. EUR 39.5 MLN, IS FINANCED WITH GROUPE ADP'S AVAILABLE CASH
FINALIZATION OF PROCESS OF UNWINDING CROSS-SHAREHOLDINGS WITH ROYAL SCHIPHOL GROUP
ROYAL SCHIPHOL GROUP NO LONGER HOLDS ANY SHARES IN GROUPE ADP
PROCEEDS FROM THIS TRANSACTION BENEFITTING TO GROUPE ADP AMOUNT TO C. EUR 420 MLN
THIS WILL HELP ADP AS IT TARGETS A NET DEBT RATIO OF 4.5 TO 5 TIMES EBITDA BY 2025
ROYAL SCHIPHOL GROUP WILL ALSO REPURCHASE SHARES HELD BY GROUPE ADP IN ROYAL SCHIPHOL GROUP
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