Royal Schiphol Group has sold its remaining stake in Aéroports de Paris (ADP). The French airport company itself bought back the shares. This is almost 4 percent, which brings Schiphol to 515 million euros.
At the same time, Schiphol bought back the interests that ADP still had in Schiphol for €420 million.
ADP manages, among others, the Charles de Gaulle airport in Paris. Schiphol joined forces with the French company in October 2008. By jointly saving costs, they wanted to take on the competition. For example, the airport operators have jointly purchased equipment.
As part of that deal, Schiphol took an 8% stake in its French counterpart. ADP in turn took an equal stake in Schiphol.
Last year it was announced that Schiphol and ADP were ending their partnership. Mutual disagreement was the main reason for this. The Dutch airport company had previously sold around 4% of its shares in ADP.
