ACV to sign strategic agreement with French airport

The Airports Corporation of Viet Nam (ACV) plans to sign a strategic partnership agreement with French airport authority Aéroports de Paris (ADP) in March this year.

Airports Corporation of Việt Nam will be the country’s second aviation firm to have a strategic partner. - Photo viet-news.net

In a draft resolution prepared for its first shareholders' meeting in HCM City last year, ACV said the initial price of the shares was expected to be VND13,100 (57 US cents) each.

With this share volume and price, ADP will hold some 7.4 per cent of ACV's total equity of VND22.4 trillion. If the agreement is successful, the French company will be restricted in transferring its shares for at least 10 years.

ACV will be the country’s second aviation firm to have a strategic partner. The first one is national carrier Vietnam Airlines, which completed negotiation and signed a strategic partnership agreement with Japan’s All Nippon Airways last year, according to a conference held by the Ministry of Transport on Tuesday.

Speaking at the conference, which reviewed the transport sector’s work in 2016 and plans for this year, deputy minister Nguyen Ngoc Dong said the ministry had prepared plans and conducted transaction of shares on the stock markets for equitised corporations.

Dong said there were 37 equitised companies listed on the stock market last year with the total value of VND35 trillion.

The ministry last year transferred its State ownership rights at Thang Long Joint Stock Corporation and eight joint stock companies operating in domestic waterway maintenance and management to the State Capital Investment Corporation.

It also divested VND2.3 trillion from 22 joint stock companies and VND262 billion from 17 subsidiaries of the ministry’s parent corporations.

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Source VNS