Paris airports (ADP) fall on the stock market. The action of the French public company which develops, obtained and operates airport platforms fell by more than 12% on Tuesday in the first exchanges on the Paris Stock Exchange, accusing the blow after the sale of the participations of the operator from Dutch Schiphol airports at a much lower price than the previous day. Schiphol announced the sale of all of the 3.9% of Aéroports de Paris that it held until then at a price of 133 euros per share, in a press release on Tuesday.
The price of the ADP share, which was worth 147.65 euros on Monday at the close, fell Tuesday morning around 09:45 (08:45 GMT) to 128.85 euros, a fall of 12.77%. Aéroports de Paris, which oversees Roissy and Orly, and Schiphol Group, had signed a long-term industrial cooperation agreement and a cross-shareholding price of 8% in 2008. The sale of the shares, the last part of which was announced on Tuesday and which will formally take place on Thursday, was scheduled between the two groups.
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It represents more than 514 million euros. For his part, “Schiphol will buy back all the shares held by ADP for an amount of approximately 420 million euros, which will mark the end of the process of unwinding the cross-shareholdings”, develops the Dutch manager in the press release. Since the beginning of the year, the Aéroports de Paris shares are still up 13.33%.
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