Corporación América Airports is declared ‘Preferred Bidder’ to operate Abuja and Kano airports, in Nigeria

Rhea-AI Summary

Corporación América Airports (NYSE: CAAP) has been named the preferred bidder by the Federal Government of Nigeria for the concessions of Abuja and Kano airports. The consortium, which includes Corporación América as a 51% stakeholder, achieved scores of 87.69% and 82.57% in technical and financial bids, respectively. This marks the beginning of negotiations for the final concession agreements. If finalized, this deal would expand CAAP's portfolio to 55 airports across seven countries.

Positive

• Preferred bidder for Abuja and Kano airports, indicating strong project potential.
• Achieved combined technical and financial scores of 87.69% and 82.57%, respectively.
• If concessions are finalized, CAAP's portfolio would grow to 55 airports worldwide.

Negative

• None.

LUXEMBOURG--(BUSINESS WIRE)-- Corporación América Airports S.A. (NYSE: CAAP), (the “Company”) a leading private sector airport concession operator in the world, today announced that the consortium formed by Corporación América Airports, Mota-Engil, Engenharia e Construção África S.A., and Mota-Engil Nigeria Limited (the “Consortium”), of which the Company will hold a 51% stake, has been declared by the Federal Government of Nigeria as the preferred bidder for the Abuja and Kano airports and cargo terminals concessions, with combined scores (Technical and Financial Bid) of 87.69% and 82.57%, respectively. This step initiates the process during which the Consortium and the Federal Ministry of Aviation and the Federal Airports Authority will together revise and negotiate the final terms and conditions of the concession agreements.

Nnamdi Azikiwe International Airport – Abuja

- 20-year concession agreement.

- Operates a single runway of 3,600 m.

- Abuja: Nigeria’s Capital city.

Mallam Aminu Kano International Airport – Kano

- 30-year concession agreement.

- Two runways of 2,451 m and 3,300 m.

- Kano: Nigeria’s second largest city.

Martin Eurnekian, CEO of Corporación América Airports, commented: “After a careful and detailed tender process, through which the Government of Nigeria evaluated all the proposals, we were declared preferred bidders for operating Abuja and Kano airports and cargo terminals in Nigeria, together with Mota-Engil, Engenharia e Construção África S.A., and Mota-Engil Nigeria Limited, our qualified and well-respected partners in this ambitious project. With this important announcement, we now enter a phase in which we will discuss and negotiate with Nigerian authorities the final terms of the concession agreements. Provided we are granted with the concessions, we would further expand our portfolio to 55 airports, across seven countries in four different continents.”

About Corporación América Airports

Corporación América Airports acquires, develops and operates airport concessions. The Company is a leading private airport operator in the world, currently operating 53 airports in 6 countries across Latin America and Europe (Argentina, Brazil, Uruguay, Ecuador, Armenia and Italy). In 2021, Corporación América Airports served 35.7 million passengers, 57.6% lower than the 84.2 million served prior to the pandemic, in 2019. The Company is listed on the New York Stock Exchange where it trades under the ticker “CAAP”. For more information, visit http://investors.corporacionamericaairports.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20221027005990/en/

Investor Relations Contact

Patricio Iñaki Esnaola

Email: patricio.esnaola@caairports.com

Phone: +5411 4899-6716

Source: Corporación América Airports

FAQ

What airports has CAAP been selected to operate in Nigeria?

CAAP has been selected to operate Abuja and Kano airports.

What is the stake of CAAP in the consortium formed for the Nigerian airports?

CAAP holds a 51% stake in the consortium.

What were the scores achieved by CAAP in the bidding process?

CAAP achieved scores of 87.69% for the technical bid and 82.57% for the financial bid.

How many airports will CAAP operate if the Nigerian concessions are finalized?

If finalized, CAAP would operate 55 airports across seven countries.