Lanseria Airport sold

"A group of private investors who have owned and developed the Lanseria International Airport over the past 21 years have sold 100% of their shares in the airport," said Harith chief executive Tshepo Mahloele

The other investors were a black economic empowerment consortium comprising the women's empowerment company Nozala and the Government Employee Pension Fund (GEPF), through the Public Investment Corporation (PIC).

"The transaction is subject to certain conditions, including regulatory approval," Mahloele added.

The airport's chief executive Gavin Sayce said, in the statement, that Lanseria's management team and philosophy would remain unchanged.

"In addition, our capital expenditure programme for the next three years has been accepted, committed to and funded by the new owners," Sayce said.

The airport offers general aviation and scheduled passenger services.

"This is a landmark transaction for private sector infrastructure deals in South Africa," said Mahloele.

"We are very pleased to have been involved with the financing of this very important growth project and envisage that it will continue to foster regional interaction and convenience for the [Southern African Development Community] region, [the] rest of Africa, as well as the local business and tourism sectors."

Describing the airport as a successful and strategic infrastructure asset in the highly-specialised and competitive aviation sector, he said Harith would play an active role in ensuring it continued to sustain and deliver value to its customers and partners.

The deal gave Nozala an opportunity to invest in the country's only privately-run airport which offered a significant upside in the future, said its acting chief executive Rampa Rammopo.

"Nozala is looking to be a significant player in the aviation and infrastructure sector and Lanseria is a key entry point into the sector," she said.

Source: Sapa via I-Net Bridge