Paris, 28 July 2016
The consortium comprising VINCI Airports, the Caisse des Dépôts and
Crédit Agricole Assurances will be acquiring 60% of the capital
of Aéroports de Lyon (ADL)
On closing of an invitation to tender, the French State, which held 60% of Aéroports de Lyon, named the VINCI Airports - Caisse des Dépôts - Crédit Agricole Assurances consortium as preferred buyer of its shares in ADL today, 28 April. ADL holds a concession contract running until 31 December 2047 for Lyon Saint-Exupéry, France's second-largest regional airport, and the Lyon Bron airport.
Three complementary partners to serve development of the Lyon airports
The successful bid is the fruit of a solid partnership between three complementary partners:
VINCI Airports, investor, programme manager and experienced operator of airports across the world; the Caisse des Dépôts Group, a long-term investor serving the public interest and regional economic development, and Crédit Agricole Assurances, leading bank-insurance player in France and in Europe.
As majority shareholder, the consortium will ensure development, investment and operation of these two airports, which generated consolidated EBITDA of €53 million in 2015. As operator, the consortium will strive to support and encourage growth of traffic and development of the two airports, while also guaranteeing the best possible quality of service for passengers.
The consortium's three members all enjoy strong positions in the region in their different fields of intervention and have broad experience of concessions.
With 8,7 million passengers welcomed in Lyon in 2015, this new concession confirms the dynamic growth of VINCI Airports in France and consolidates its position as one of the top five players in the world airport market. VINCI Airports, which has a network of 36 airports, will manage annual traffic of around 125 million passengers looking to end 2016. The VINCI Group employs more than 11,00 people in the Auvergne-Rhône-Alpes region and generated revenue of €2.3 billion in 2015.
With this equity stake, the Caisse des Dépôts, historic partner to local authorities, confirms its commitment to the growth and economic and tourist development of the Lyon metropolitan area and, more broadly, the new greater Auvergne-Rhône-Alpes region. Drawing on its experience and its investment portfolio of over €180 million in infrastructure and regional development through over 120 equity stakes (including more than 40 local public-private enterprises), it is well-placed to facilitate relations between private industrial partners and local public shareholders.
Lastly, for Crédit Agricole Assurances, this operation is a perfect fit with its strategy as a long-term institutional investor keen to diversify its investments - a strategy that primarily entails financing large-scale projects to foster strong regional development. In the Auvergne-Rhône-Alpes region, Crédit Agricole Assurances is co-buyer of the Grand Hôtel Dieu, an emblematic Lyon site that will become a new city neighbourhood featuring a mix of shops, offices, a hotel and housing.
VINCI is a global player in concessions and construction, employing more than 185,000 people in some
100 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, above and beyond economic and financial results, we are committed to operating in an environmentally and socially responsible manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities.
About the Caisse des Dépôts
Caisse des Dépôts and its subsidiaries together form a State-owned group that is a long-term investor serving France's public interest and local and regional economic development. This role was reaffirmed by the French Law on modernisation of the economy of 4 August 2008.
The Group has renowned expertise in managing public service mandates and it has earmarked four priority sectors for creating jobs and partnering industrial development and innovation: business development, the energy transition, housing, and infrastructure and mobility.
About Crédit Agricole Assurances
Crédit Agricole Assurances, Europe's leading bank insurer, unites together Crédit Agricole's insurance subsidiaries. The Group offers a range of savings, retirement, health, personal risk and property insurance products and services. They are distributed by the Crédit Agricole Group's banks in France and in 10 other countries around the world by financial advisors and multi-line insurance agents. The Crédit Agricole Assurances companies serve individuals, professionals, farmers and businesses. Crédit Agricole Assurances has 4,000 staff, with €30.4 billion in revenues (IFRS standards) at end-2015.
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