23-Jun-2010 10:16 AM

MAp - Copenhagen Airports' agreement to divest its interest in ITA

Direct News Source

23-Jun-2010 MAp welcomes CPH’s announcement that it has agreed to divest its 49% interest in ITA to Fernando Chico Pardo, CPH’s Mexican business partner.

Through its interest in ITA, CPH has a 3.75% beneficial interest in Grupo Aeropuertos del Sureste SAB de CV (ASUR).

The divestment is conditional on regulatory approvals and is consistent with CPH's overall strategy of seeking to realise attractive values for its non-core assets. CPH expects to recognise a profit before tax on the divestment of up to DKK400m.

MAp has a 30.8% beneficial interest in CPH comprising a 3.9% direct interest and a 26.9% interest through its interest in Copenhagen Airports Denmark Holding ApS (CADH). It is currently intended that a significant portion of the sale proceeds will be utilised to retire debt.