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ACV to sign strategic agreement with French airport

ACV to sign strategic agreement with French airport

HANOI:  The Airports Corporation of Việt Nam (ACV) plans to sign a strategic partnership agreement with French airport authority Aéroports de Paris (ADP) in March this year. 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 VNĐ13,100 (58 US cents) each.

With this share volume and price, ADP will hold some 7.4 per cent of ACV’s total equity of VNĐ22.4 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 Monday.

Speaking at the conference, which reviewed the transport sector’s work in 2016 and plans for this year, deputy minister Nguyễn Ngọc Đông said the ministry had prepared plans and conducted transaction of shares on the stock markets for equitised corporations. Đông said there were 37 equitised companies listed on the stock market last year with the total value of VNĐ35 trillion. The ministry last year transferred its State ownership rights at Thăng 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 VNĐ2.3 trillion from 22 joint stock companies and VND262 billion from 17 subsidiaries of the ministry’s parent corporations.