Janssen de Jong acquires 49 percent in airport

November 27, 2008 4:09 AM

While share sales in the airport by Alterra and A-Port have encountered problems, shareholder Janssen de Jong has in all secrecy enlarged its interest to 49 percent. This transaction has in the meantime been finalized, confirms Clift Christiaan, managing director of Curaçao Airport Holding (CAH).

Janssen de Jong-director Pieter van Gulik: “By doing this we’re showing that we have a lot of confidence in the island and the aviation business. It is a beautiful airport. Tourism will experience an ongoing growth in the coming years.”
Up until recently the on Curaçao established construction company held 10 percent of the shares in Curaçao Airport Partners. The shareholder has attempted to enlarge that share for more than two years already. The take-over of the Alterra-interest of 51 percent did not succeed. For this a company with experience in airport exploitation is necessary. In Alterra that’s Changi Airport in Singapore. When that acquisition failed, the company aimed for the remaining interest of 39 percent by the Venezuelan enterprise Timinvest (Trime Compañia Anonima). And evidently with success.

Earlier this year, Ronald Philipse and Van Gulik, both member of the Board of Directors of Janssen de Jong, mentioned during an interview with this paper that they had hopes to expand their interests. The construction company sees itself as the biggest interested party as it is the only shareholder which is stationed on the island. The interest of the island, the interest of the airport and the interest of the construction company thus easily match. “We are the only ones which can’t walk away from the island”, declared Philipse at the time. “We have every reason to make a success of the airport. The longer the proceedings of the take-over, the longer the desired improvements have to wait.” Both top executives urged a speedy take-over by A-Port, the Chilean/Brazilean/Swiss consortium with which they have been negotiating for months already. A-Port consists of the Chilean Gestión e Ingeniería IDC, Unique Zurich Airport and the Brazilean Camargo Correa.

CAH-director Christiaan: “We are confident that an agreement will be reached. It’s just about small things.” According to Christiaan the agreement has been finalized for 99 percent and he hopes to have a definite green light between two to three weeks. As soon as the agreement between A-Port and CAH is definite, proceedings for approval by the government will follow. That Janssen de Jong was able to enlarge its interest in the CAP to 49 percent went beyond the holding. Christiaan’s reaction is not undivided positive. “It’s good when the shareholder has a positive attitude. It is important that they don’t put their own interests first, but look at the general interest.” Eventhough the take-over is finalized, that issue is still part of the few ‘points to be smoothed out’ in the negotiations with A-Port. We still have some questions about that”, is all Christiaan wants to say about it.

(Source: National newspaper Amigoe)

25 November, 2008