“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 management and operational capacity”.
Jorge Mario Velásquez CEO of Grupo Argos and Chairman of the Board of Odinsa |
“We’re excited about our continued growth in the region through investments in quality infrastructure that provides essential services. This investment broadens our valuable relationship with Odinsa, and we hope to work together with the main stakeholders to continue strengthening the transportation infrastructure in the region.” Karl Kuchel, CEO of Macquarie Infrastructure Partners |
“Through this joint venture with Macquarie, we confirm our commitment to the country and strengthen our position to continue consolidating and expanding our presence in Colombia and the region, through sustainable infrastructure projects that promote competitiveness and development.”
Mauricio Ossa CEO of Odinsa |
This new platform consolidates a strategic long-term partnership, considering that in June 2022, Odinsa and MAM began the operation of their road infrastructure investment platform: Odinsa Vías. The interest displayed by MAM is good news for Odinsa, the sector and the country, as it ratifies the confidence and interest of global players to continue investing in Colombia, promoting the achievement of the country’s objectives in terms of air connectivity and the intermodal system.
Transaction Details
Odinsa Aeropuertos was incorporated after negotiating with Macquarie: the 30% that Grupo Argos held in Opain for COP 274 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 aforementioned 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 USD 582 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, securities, 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 current as of March 31, 2023. For more information, go to www.macquarie.com.
- Having fulfilled all the conditions precedent for this transaction, the companies announced the consolidation of their strategic partnership and the launch of operations at Odinsa Aeropuertos.
- This new partnership between Odinsa and Macquarie Asset Management confirms this global investor’s confidence in the organization’s management capacity, and in Colombia as an investment destination.
- Odinsa will manage the recently created platform, which holds the concessions for the airports El Dorado in Colombia and Mariscal Sucre in Ecuador, ranked by Skytrax as two of the best airports in South America.
- The platform may develop new projects and opportunities on the American continent, and will continue to promote Private Initiatives such as new new Airport in Cartagena (Nuevo Aeropuerto de Cartagena), El Dorado Max, and the El Dorado Runway (Campo de Vuelo El Dorado).
June 29, 2023. Odinsa, the Grupo Argos concession company, and Macquarie Asset Management (MAM), the world’s largest infrastructure asset manager[1], on behalf of Macquarie Infrastructure Partners V, announced the consolidation of their strategic partnership through a new airport infrastructure investment platform, in which each party holds a 50% equity stake, with assets of approximately COP 1.3 trillion.
Having fulfilled the conditions precedent for the closing of the operation with the corresponding authorities, financial institutions, insurers and concession shareholders, the newly created platform will focus on managing Opain (in charge of the El Dorado airport, in which it holds a 65% equity interest), and Quiport (in charge of the Mariscal Sucre airport, in which it holds a 46.5% ownership stake). In combination, these two airports moved over 40 million passengers in 2022, and this year they were recognized as the Best Airports in South America by the British firm Skytrax.
This platform will also be in charge of developing the Private Initiatives (IP) that Odinsa has been promoting to strengthen Colombia’s competitiveness:
- IP Nuevo Aeropuerto de Cartagena: An initiative to move the Cartagena airport to new facilities with modern, efficient, sustainable and safe infrastructure, and capacity to serve the expected growth in air traffic in upcoming years, in line with the growth projections of Cartagena, which will drive several of its economic sectors. Given its strategic location, the airport may consolidate its position as one of the main multimodal nodes in the region and the country.
- IP Campo de Vuelo: It calls for the improvement and operation of the runways and taxiways of the Bogotá airport with sustainable infrastructure and leading-edge technology, to enhance the operating safety and reliability of El Dorado, and contribute to the environmental care and wellbeing of the communities and users.
- IP El Dorado Max: It proposes the expansion and improvement of the existing infrastructure at the El Dorado airport in Bogotá, as well as new works to maximize its capacity over the medium term and continue consolidating its position among the best in the world.
Additionally, driven by the broad experience of the two companies that created this solid platform, Odinsa Aeropuertos will continue to explore other opportunities for investment and value creation in Colombia and the American continent.
[1] IPE Real Assets 2021 – Top 100 Infrastructure Investment Managers (July 4, 2022), based on assets under management as of December 31, 2021.
“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 management and operational capacity”.
Jorge Mario Velásquez
CEO of Grupo Argos and Chairman of the Board of Odinsa
- Having fulfilled all the conditions precedent for this transaction, the companies announced the consolidation of their strategic partnership and the launch of operations at Odinsa Aeropuertos.
- This new partnership between Odinsa and Macquarie Asset Management confirms this global investor’s confidence in the organization’s management capacity, and in Colombia as an investment destination.
- Odinsa will manage the recently created platform, which holds the concessions for the airports El Dorado in Colombia and Mariscal Sucre in Ecuador, ranked by Skytrax as two of the best airports in South America.
- The platform may develop new projects and opportunities on the American continent, and will continue to promote Private Initiatives such as new new Airport in Cartagena (Nuevo Aeropuerto de Cartagena), El Dorado Max, and the El Dorado Runway (Campo de Vuelo El Dorado).
June 29, 2023. Odinsa, the Grupo Argos concession company, and Macquarie Asset Management (MAM), the world’s largest infrastructure asset manager[1], on behalf of Macquarie Infrastructure Partners V, announced the consolidation of their strategic partnership through a new airport infrastructure investment platform, in which each party holds a 50% equity stake, with assets of approximately COP 1.3 trillion.
Having fulfilled the conditions precedent for the closing of the operation with the corresponding authorities, financial institutions, insurers and concession shareholders, the newly created platform will focus on managing Opain (in charge of the El Dorado airport, in which it holds a 65% equity interest), and Quiport (in charge of the Mariscal Sucre airport, in which it holds a 46.5% ownership stake). In combination, these two airports moved over 40 million passengers in 2022, and this year they were recognized as the Best Airports in South America by the British firm Skytrax.
This platform will also be in charge of developing the Private Initiatives (IP) that Odinsa has been promoting to strengthen Colombia’s competitiveness:
- IP Nuevo Aeropuerto de Cartagena: An initiative to move the Cartagena airport to new facilities with modern, efficient, sustainable and safe infrastructure, and capacity to serve the expected growth in air traffic in upcoming years, in line with the growth projections of Cartagena, which will drive several of its economic sectors. Given its strategic location, the airport may consolidate its position as one of the main multimodal nodes in the region and the country.
- IP Campo de Vuelo: It calls for the improvement and operation of the runways and taxiways of the Bogotá airport with sustainable infrastructure and leading-edge technology, to enhance the operating safety and reliability of El Dorado, and contribute to the environmental care and wellbeing of the communities and users.
- IP El Dorado Max: It proposes the expansion and improvement of the existing infrastructure at the El Dorado airport in Bogotá, as well as new works to maximize its capacity over the medium term and continue consolidating its position among the best in the world.
Additionally, driven by the broad experience of the two companies that created this solid platform, Odinsa Aeropuertos will continue to explore other opportunities for investment and value creation in Colombia and the American continent.
[1] IPE Real Assets 2021 – Top 100 Infrastructure Investment Managers (July 4, 2022), based on assets under management as of December 31, 2021.
