Flanders Secures Majority Stake in Brussels Airport
The Belgian Competition Authority (BCA) has approved Flanders’ entry into the capital of Brussels Airport. Through its investment company PMV, the Flemish government will acquire the shares previously owned by the Canadian pension fund Ontario Teachers’ Pension Plan (OTPP), becoming the airport’s largest shareholder, reports 24brussels.
The BCA granted approval for the 2.77 billion euro transaction on 1 October, confirming that PMV and the Federal Holding and Investment Company (FPIM) will jointly control Brussels Airport Company.
Flanders’ stake in the airport will increase from a small 1 per cent to 39 per cent following the deal. This equates to a controlling interest of 52 per cent in BAISA, the private consortium that holds 75 per cent of Brussels Airport Company, while FPIM maintains the remaining 25 per cent.
The simplified approval process indicates that the BCA identified no competition concerns regarding this acquisition.
Flemish minister-president Matthias Diependaele has previously defended the significant investment, labeling it a strategic decision to ensure influence over the future of the airport. He anticipates that the investment will generate profitability starting from 2028 through dividend returns.
Brussels Airport serves as Flanders’ second-largest economic hub, sustaining approximately 60,000 jobs and contributing 5.4 billion euros in added value to the Belgian economy.
