Aeroports de Paris gets approval for stake buy in Vietnam airports firm

[HANOI] France's Aeroports de Paris SA got approval from Vietnam's transport ministry to buy a major stake and become the sole strategic investor in Airports Corporation of Vietnam (ACV), a state-run newspaper reported on Monday.

The stake sale to ADP, the only eligible investor after Singapore's Changi Airports International had failed, will be completed in the third quarter of 2016, the Vietnam Economic Times newspaper said, citing a ministry directive.

ACV officials were not immediately available for comment. The airports firm, valued at US$1.2 billion and which operates all of Vietnam's major airports, offered a 20 per cent stake to potential strategic partners after its initial public offering in December 2015.

REUTERS