Alterra confirms Lm60.5 million MIA investment

According to an AFX Europe report in the Financail Times, the Grupo Dragados SA yesterday announced that the Alterra consortium is currently in the process of finalising the acquisition of a 40 per cent stake in Malta International Airport for the price of EUR150 million (Lm60.5 million).

The announcement confirms an earlier report in the Spanish paper, Cinco Dias.

A spokesman from Dragados yesterday commented, "We have been selected as preferred bidder, so final negotiations should take about three months."

The winner of the tender is expected to invest Lm60.5 million in the project, which has a concession life of 65 years. The bulk of the investment will go toward financing the purchase of the 40 per cent MIA shareholding.

Meanwhile, the remaining 60 per cent MIA shareholding is expected to be submitted for public offer.

The Dragados unit, Dragados Concesiones, holds a 44 per cent of Alterra, in which the US company Bechtel and Singapore Airport also hold stakes.