Tirana International Airport under the control of a Canadian company

Tirana International Airport under the control of a Canadian company

Tirana, June 13, 2013

“Mother Teresa” Tirana International Airport (photo), the only functional airport in Albania has been transferred under the control of a Canadian company. This was announced by official sources from this airport, which was given on concessions for a period of 30 years 8 years ago.

Authority of Competition in Albania declared on Thursday that “Tirana International Airport”  Sh.p.k (TIA), part of the German company “Hotchtief Airport GmbH” will change owner. This change comes as a result of the concentration of indirect control of TIA by the Canadian “Public Sector Pension Investment Board” which has acquired the German “Hotchtief Airport GmbH”. According to the National Center of Registration, this German company owns 47% of the shares, thus the majority of TIA. The transaction has been carried out based on the “Agreement for the sale of shares”, signed between parties: “World Airport Partners GmbH & Co.KG” as purchaser and “Hochtief Aktiengesellschaft” as seller, with the objective of the transfer of 100% of the shares of the latter on May 7, 2013.

This agreement leads to an indirect control of TIA (Tirana International Airport Sh.p.k) and the acquisition of 47% of the quotations in possession.

TIA is involved in the activity, projection, funding, construction, maintenance, administration and development of Tirana Airport, whereas “World Airport Partners GmbH & Co.KG” is a cooperation German company which functions as an “ad hoc” investment mechanism on the account of the Canadian “Public Sector Pension”.

“Hochtief Aktiengesellschaft” is a German company and shareholder of 100% of the capital of Target company, while “Hotchtief Airport GmbH” is an investment company and a private industrial administrator of airport, which has a portfolio of participation in the airports of Athens, Budapest, Dusseldorf, Hamburg, Sidney and Tirana.

According to the agreement, the turnover amounts to around 1.5 billion Euros and “Hochtief AG” will receive 1.1 billion Euros. Some of the shares have been kept by its partners, said the company in a press release.

The company holds shares in the airports of Athens, Budapest, Dusseldorf, Hamburg, Sidney and Tirana. Since April 23, 2005, Tirana International Airport “Mother Teresa” is managed and operated by a private company  “Tirana International Airport SHPK (TIA)”, as a concessionary firm which will manage all the activities of the airport for 20 years.

TIA is a company owned by “HOCHTIEF AirPort”, a leader in investments in world airports, by “Deutsche Investitions- und Enëicklungsgesellschaft” (DEG), member KfW group specialized in financing and investments of corporations, infrastructures in Europe and financing in exports, long term projects and investments of European companies abroad, “Fondi Shqiptaro-Amerikan i Ndërmarrjeve (FSHAN)”, an investing company created by the US government to support the development of the private sector in Albania.

TIA has the monopoly of flights in Albania. An airport was built in Kukes, on the border with Kosovo. This airport has European standards, but it was never made functional, because according to the contract with the Albanian state, TIA has the exclusivity of flights in Albania.

Even other airports in different towns of the country have not been made functional due to the concentration of flights in Tirana.

Albania is the only country in Europe with only one civil airport. /ibna/