The Chinese investor seeking a stake in Toulouse Blagnac Airport in France wants more airport investments in Europe.
Friedmann Pacific Asset Management Chairman Mike Poon says the Hong Kong-based investment firm aims to invest in three to five airport projects overseas in the next three years, as a growing number of airports are put up for sale by cash-strapped governments in Europe and other markets.
Friedmann Pacific is part of a consortium with China’s state-owned Shandong Hi-Speed Group Corp. In December it was selected as a preferred bidder for a 49.99% stake in France’s No. 4 airport in Toulouse.
The 308 million euro (US$340 million) deal, which is expected to close in the first half, marks the first Chinese investment in a major overseas airport project. “Our goal is to turn [Toulouse Airport] into a Chinese tourist hub by introducing new routes to Chinese cities,” Poon says
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