Next step in terminating cooperation agreement between RSG and ADP
The HubLink cooperation agreement between Aéroports de Paris (ADP) and Royal Schiphol Group (RSG) ended on 30 November 2021. Earlier this year, the two airport companies announced that they would not renew the agreement, which ran until 30 November 2021.
In 2008, ADP and RSG agreed on an exit mechanism to wind up the cross-participation. Under this mechanism, each company is required to sell its shares in the other company within a period of 18 months, with RSG being required to sell its shares in ADP prior to ADP selling its shares in RSG. The cross-participation will be fully wound up ultimately by 30 May 2023.
RSG has engaged advisors Macquarie Capital, De Brauw Blackstone Westbroek and Darrois Villey Maillot Brochier to support this process.
As a result of the termination of the cooperation agreement, Edward Arkwright retired from the Supervisory Board of RSG and Dick Benschop and Robert Carsouw retired as non-executive members of the Board of ADP.