Govt takes 15% stake in AA2000 following debt conversion

Wednesday, December 28, 2011

The Argentine government has acquired a 15% stake of airport concessionaire Aeropuertos Argentina 2000 (AA2000).

The government decided to exercise the call option it has had since March 2008, by converting 158mn pesos (US$36.8mn) worth of bonds (obligaciones negociables convertibles), the concessionaire said in a filing with the Buenos Aires stock exchange.

The company issued some 38.8mn new common shares, equivalent to 15% of the total capital with voting rights.

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AA2000 operates in 33 of the country's airports, with concessions expiring in 2028, local daily Clarín reported. The company is controlled by Corporación América, with 84%. Local construction firm Constructora Riva owns 1%.