A fund managed by Ashmore Colombia has acquired an 85 per cent interest in Compañía de Desarollo Aeropuerto Eldorado (Codad), the concessionaire of the two runways at El Dorado Airport in Bogotá.
The runways have been acquired from Abertis Infraestructuras for a total consideration of COP132bn (approximately USD66m).
Codad was incorporated in 1995 to execute the concession contract for the construction of the second runway at El Dorado Airport and to perform maintenance on both of El Dorado’s runways. El Dorado is Colombia’s largest airport carrying the third highest number of passengers in Latin America, with 22.5 million passengers recorded in 2012 and is the busiest airport in Latin America by cargo traffic.
This is the fund’s eighth investment since it launched in 2010.
Camilo Villaveces, president and CEO of Ashmore Colombia, says: “The acquisition of Codad is a significant transaction for us. The considerable growth in international traffic witnessed at El Dorado Airport underlines the attractiveness of this sector that we believe offers potential across the Andean region.”
