EBRD buys an indirect equity stake in Queen Alia Airport in Jordan. Credit: European Bank for Reconstruction and Development.

The European Bank for Reconstruction and Development (EBRD) has completed the purchase of an indirect equity stake in Airport International Group (AIG), which is a concessionaire that manages Queen Alia International Airport (QAIA) in Jordan.

In a statement, EBRD said: “The bank is committing up to €30.5m to AIG through the acquisition of an indirect stake in Meridiam Eastern Europe Investments II SAS (Meridiam), which acquired 32% of AIG last year.”

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AIG was established in Jordan in 2007 and operates as a private shareholding company. It was awarded a 25-year build-operate-transfer (BOT) concession by the Government of Jordan for the rehabilitation, expansion, and operation of QAIA.

“The bank is committing up to €30.5m to AIG through the acquisition of an indirect stake in Meridiam, which acquired 32% of AIG last year.”

In April last year, a consortium involving ADP Group, Meridiam, and Asma Capital purchased 85.25% of shares from several selling shareholders, with ADP increasing its stake to 51% and Meridiam acquiring 32%.

Located 35km from the capital of Amman, QAIA was first opened in 1983 to become Jordan’s key gateway to the world.

QAIA provides passenger, air cargo and aviation support services and operates flights to a number of destinations in Europe, Asia, North America, and the Middle East.

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Jordan has secured more than €1.3bn of funding commitments for 43 projects in various sectors of the economy since becoming an EBRD shareholder in 2012.