AA2000 prepares for public offering

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The Argentinean airport authority is to offer part of its share capital as negotiations over its concession agreement near completion

Argentina's principal airport operator Aeropuertos Argentina 2000 (AA2000) will make a public offering of part of its share capital on the Buenos Aires stock exchange before the end of June, analysts in the city have predicted. A shareholders meeting to be held on the May 30 is expected to approve the move, designed to increase company reserves to help fund a Ps3.2bn ($1.12bn) investment programme agreed with the Argentinean government.

AA2000 ceo Ernesto Gutierrez confirmed that the public offering would take place once the company's concession contract has been renegotiated ? AA2000 and the Kirchner administration have been discussing a revised concession agreement for more than a year and industry observers now expect an agreement to be announced within weeks.

Eduardo Eurnekian, AA2000's principal shareholder, is expected to add the 26% stake held by Italian partner SEA to his portfolio, although SEA will remain a key partner in the authority's international expansion in Montevideo, Guayaquil and Armenia.