Infrastructure company Vinci SA (EPA: DG) is buying airport operator Aeropuertos Dominicanos Siglo XXI, also known as Aerodom, from Advent International.
The target operates six airports in the Dominican Republic including Las Américas International and Gregorio Luperon. Together, the airports served 4.3 million passengers in 2014.
Advent acquired Aerodom in 2008 and has restructured the company in order to increase trafficic by expanding runways, remodeling terminals, adding new airplane hangars and developing new routes.
“We have improved operations and expanded both the commercial and aeronautical sides of the business, resulting in significant revenue and productivity growth,” says Advent managing director Luis Solorzano.
After the transaction closes, Vinci, based in Rueil-Malmaison Cedex, France, will operate 33 airports including 11 in France, 10 in Portugal and two in Japan.