European regulators have approved the acquisition of Aeroportos de Portugal by French building and civil engineering company Vinci.
The proposed transaction is the result of a tender procedure launched by the Portuguese state in the context of the airport operator's privatisation.
The European Commission assessed the planned deal's effects on: awards of airport management and operation concessions; management and operation of airport infrastructure; and these markets' vertical relationships with upstream electrical, mechanical, and climatic engineering services, of which Vinci is a provider.
The Commission found that the transaction would not raise competition concerns. The merged entity would be unable to shut out suppliers of the various engineering services because of numerous credible competitors, it concluded.