Tirana International Airport (TIA), which operates Mother Teresa airport in the Albanian capital, has been sold to a Chinese company for $90mn, local media reported quoting confidential sources.
Chinese companies, including state owned firms, have increased investments into infrastructure in Southeast Europe in recent years. The region's relatively low costs and proximity to Central Europe and Germany make it attractive for Chinese investors. It is also an important transit route between Greece's Piraeus Port, where China's Cosco recently acquired a majority stake, and major EU economies.
On April 13, media reported that China Everbright was negotiating to buy Tirana airport. TIA had exclusive rights over international flights to and from Albania, but earlier this month, the Albanian transport ministry announced it had reached agreement with the operator to remove its exclusive rights, which paved the way for other airports to open in the country.
The agrement for the sale of Tirana airport has been reached, Albanian Daily News, reported on April 17, quoting sources.
TIA is a consortium owned by Germany’s AviAlliance, DEG Deutsche Investitions-und Entwicklungsgesellschaft, a member of the KfW banking group, and the Albanian-American Enterprise Fund (AAEF).
China Everbright Limited is a financial services company active in asset management, direct investment, brokerage and investment banking in China and Hong Kong.
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