- CPP will hold a stake of around 5.64% in Groupe ADP once the deal is settled
- Groupe ADP owns Charles de Gaulle Airport, Orly Airport and Le Bourget Airport
- It has committed to carbon neutrality at 23 of its airports by 2030
CPP Investments announced that it has agreed to buy a 1.59 percent stake in Aéroports de Paris (Groupe ADP) from Royal Schiphol Group.
Paris-based Groupe ADP owns international airports Charles de Gaulle Airport, Orly Airport and Le Bourget Airport – all based in Paris – as well as interests in a network of 25 airports worldwide that handled 160 million passengers last year. It has committed to carbon neutrality at 23 airports, including its Parisian ones, by 2030.
Once the deal is settled, CPP will hold a stake of around 5.64 percent in Groupe ADP, or €791 million-worth at market prices on 16 November.
CPP Investments, or the Canada Pension Plan Investment Board, manages the Canada Pension Plan’s fund. It is headquartered in Toronto with offices around the world. As of 30 September, the fund totalled C$529 billion ($395.9 billion; €383.0 billion).
The seller, Royal Schiphol Group, is a Dutch airport company. It owns and operates Amsterdam Airport Schiphol, Rotterdam The Hague Airport and Lelystad Airport, and holds a majority stake in Eindhoven Airport. It is headquartered in Haarlemmermeer.