Odinsa, a Grupo Argos concessions company, and Macquarie Asset Management, the administrator of the largest infrastructure fund in the world, will create an airport platform for COP 1.4 billion
29 September 2022
This platform materializes a significant milestone in the consolidation of Grupo Argos’ infrastructure assets to continue generating value for its shareholders and is complemented by the track platform that began operating between Odinsa and Macquarie Asset Management in June 2022.
The new alliance will involve an initial investment by Macquarie Infrastructure Partners for COP 688,000 million and also includes the three private initiatives that Odinsa has been promoting in Colombia.
Odinsa will continue to be involved in the management of the concessions for the El Dorado and Mariscal Sucre airports, the two best in South America according to Skytrax.
The arrival of Macquarie Asset Management to Grupo Argos’ airport business confirms confidence in the company’s strategy and ability to manage assets, generating economic value and attracting global capital to develop the infrastructure needs of the region.
In order to continue generating value and contributing to the competitiveness and development of Colombia and the region, Odinsa and Macquarie Asset Management agreed to create an investment platform focused on managing the airport assets of the Grupo Argos concession company for close to COP 1.4 trillion, as well as in the development of private initiatives underway in Colombia and in the evaluation of other opportunities in the American continent.
Macquarie and Odinsa, each, will have a 50% stake in the airport platform, which at the closing of this transaction will have 65% of Opain (El Dorado) and 46.5% of Quiport (Mariscal Sucre). To perfect the business, Grupo Argos will sell 30% of Opain to Macquarie Infrastructure Partners for COP 269,000 million, so that it will later contribute to the platform. For its part, Odinsa will sell 2.5% of Opain for COP 22,000 billion, as well as 50% of its property in Quiport for COP 367,000 billion. Additionally, Odinsa will contribute the remaining participation in these concessions to the platform. Given its extensive capacity, experience and knowledge of the assets, Odinsa will continue to be the manager of the platform.
The new airport platform will also be made up of private initiatives led by Odinsa in Colombia: (i) the New Cartagena Airport, which seeks to develop the necessary infrastructure to support passenger demand for the next 50 years; (ii) El Dorado Max, an efficient solution to maximize the use of the current El Dorado airport terminal; and (iii) El Dorado Flight Field, which proposes improvements to the airport’s runways and taxiways, with cutting-edge technology and the expansion of its capacity.
“We are pleased to announce to the country a new alliance with the largest infrastructure fund manager in the world. The new platform will add the experience, technical capabilities, track record and financial strength of two large companies to develop airport infrastructure in Colombia and the region. This is a relevant milestone in the materialization of the strategic thesis of Grupo Argos”.
Jorge Mario Velásquez, CEO of Grupo Argos and president of the Board of Directors of Odinsa
“We are excited about our continued growth in the region through investments in quality infrastructure that provides essential services. This investment extends our valuable partnership with Odinsa and we look forward to working collaboratively with key stakeholders to further strengthen transportation infrastructure in the region.”
karl kuchel CEO of Macquarie Infrastructure Partners
“With this new alliance with Macquarie, we reiterate our confidence and interest in continuing to promote the competitiveness of Colombia and the region with projects that contribute to sustainable development.”
Mauricio Ossa CEO of Odinsa, concessions company of Grupo Argos
In June 2022, Odinsa and Macquarie began the operation of their road infrastructure investment platform, Odinsa Vías, which manages the following road projects in Colombia: Túnel Aburrá Oriente, Pacífico 2, Malla Vial del Meta and Autopistas del Café, as well as as his private initiatives.
The interest shown by national and international investors translates into good news for Grupo Argos, the sector and the country, since it confirms the confidence in the management developed by these companies and the interest of global players in continuing to invest in Colombia, promoting the compliance with the goals that the country has set for itself in terms of air connectivity and intermodalism.
Within the framework of the alliance, prior approval of the Boards of Directors of Grupo Argos and Odinsa, the sale and contribution of the shareholdings was agreed