Odinsa and Macquarie Asset Management start the operation of their new platform that will manage airport assets for COP 1.3 trillion

After fulfilling all the conditions precedent for this transaction, the companies announced the consolidation of their strategic alliance and informed the start of operations of Odinsa Aeropuertos.

This new alliance between Odinsa and Macquarie Asset Management confirms the confidence of this global investor in the management capacity of the organization and in Colombia as an investment destination.

Odinsa will manage the platform, which has the concessions of El Dorado Airport in Colombia and Mariscal Sucre Airport in Ecuador, considered two of the best airports in South America according to Skytrax.

The platform will be able to develop new projects and opportunities in the Americas and will continue to promote private initiatives such as the new Cartagena Airport, El Dorado Max and El Dorado Flight Field.

June 29, 2023.Odinsa, Grupo Argos’ concessions company, and Macquarie Asset Management (MAM), the world’s largest infrastructure asset manager, on behalf of Macquarie Infrastructure Partners V, announced the consolidation of their strategic alliance in the new airport infrastructure investment platform, in which each has a 50% stake and which includes assets of close to COP 1.3 trillion.

Once the suspensive conditions for the closing of the operation have been fulfilled before the corresponding authorities, financial institutions, insurance companies and shareholders of the concessions, the platform begins its operation focused on the management of Opain, in charge of El Dorado airport, in which it has a 65% participation, and Quiport, in charge of Mariscal Sucre airport, where it participates with 46.5% of the property. Together, these two airports mobilized more than 40 million passengers in 2022 and this year were recognized as the Best Airports in South America according to the British firm Skytrax.

In addition, this platform will be in charge of the development of the Private Initiatives (PI) that Odinsa has been promoting in Colombia to strengthen its competitiveness:

IP New Cartagena Airport: an initiative to move Cartagena airport to a new modern, efficient, sustainable, safe and secure infrastructure with capacity to attend the air traffic for the next years accompanying the growth projections of the city and boosting different economic sectors. In addition, given its strategic location, it could consolidate as one of the multimodal nodes of the region and the country.
Airfield IP: contemplates the improvement and operation of the runways and taxiways of the Bogota airport with sustainable infrastructure and state-of-the-art technology, to strengthen the safety and operational reliability of El Dorado, contribute to environmental care and the welfare of communities and users.
IP El Dorado Max: proposes the expansion and improvement of the existing infrastructure of Bogota’s El Dorado airport, as well as the construction of new works to maximize its capacity in the medium term and continue consolidating its position among the best in the world.

In addition, driven by the extensive experience of both companies that make up this solid platform, Odinsa Aeropuertos will continue to explore other investment and value creation opportunities in Colombia and the Americas.

“For Grupo Argos, the consolidation of Odinsa Aeropuertos represents the tangible materialization of its strategy as an infrastructure asset manager and the recognition and trust it generates among global players for its experience and managerial and operational capacity”.

Jorge Mario Velásquez

Chairman of Grupo Argos and Chairman of the Board of Directors of Odinsa

“We are excited about our continued growth in the region through quality infrastructure investments that provide essential services. This investment expands our valuable partnership with Odinsa and we look forward to working collaboratively with key stakeholders to further strengthen transportation infrastructure in the region.”

Karl Kuchel, CEO Macquarie Infrastructure Partners

“With this strategic alliance with Macquarie we ratify our commitment to the country and strengthen ourselves to continue growing in Colombia and the region, with sustainable infrastructure projects that drive competitiveness and development.”

Mauricio Ossa

President of Odinsa

With this new platform, a long term strategic alliance is consolidated, taking into account that, in June 2022, Odinsa and MAM started the operation of its investment platform in road infrastructure: Odinsa Vías. The interest shown by MAM is good news for Odinsa, the sector and the country, since it ratifies the confidence and interest of global players to continue investing in Colombia, promoting the achievement of the goals set by the country in terms of air connectivity and intermodalism.

Details of the transaction

Odinsa Aeropuertos was incorporated after negotiating with Macquarie: the 30% that Grupo Argos had in Opain for COP 275 billion; 2.5% of Odinsa’s stake in Opain for COP 23 billion; 23.25% of Odinsa’s ownership in Quiport for USD 76 million and 50% of Odinsa’s rights as originator in the three private initiatives, for COP 25 billion.

Finally, for the constitution of the platform, both Odinsa and Macquarie contributed their stakes in the mentioned concessions and projects. It should be noted that, given Odinsa’s extensive capacity, experience and knowledge of the assets, this company will continue to manage the platform.

About Macquarie Asset Management

Macquarie Asset Management (MAM) is a global asset manager that aims to deliver positive impact for all. Institutions, pension funds, governments and individuals have entrusted it to manage USD582 billion globally and provides access to specialized investment expertise in a range of capabilities, including infrastructure, green investments and renewable energy, real estate, agricultural and natural assets, asset finance, private credit, equities, fixed income and multi-asset solutions.

Macquarie Asset Management is part of Macquarie Group, a diversified financial group that provides clients with asset management, financing, banking, advisory, risk and capital solutions in debt, equity and commodities. Founded in 1969, Macquarie Group employs more than 20,500 people in 34 markets and is listed on the Australian Stock Exchange.

All figures are current as of March 31, 2023. For more information, visit www.macquarie.com.