Leading Canadian Pension Fund Becomes Long-Term Partner of ADC & HAS Airports Worldwide
Houston, Texas (Nov 3, 2009) - HAS Development Corporation (HASDC), an affiliate of the Houston Airport System (HAS), and Airport Development Corporation (ADC), a Canadian airport developer, have announced the formation of a long-term strategic partnership with Omers Strategic Investments (OSI), a member of the Omers Worldwide group of companies. The partnership operates under the brand name of ADC & HAS Airports Worldwide.
The partnership has been formed specifically to pursue airport acquisition and operation opportunities in the growing airport privatization market, initially in Latin America. The partnership's long-term strategy is to deliberately expand its current focus on the Americas to other regions of the world to become a key global airport owner and operator.
"Globally, OSI is forging long-term alliances and partnerships on behalf of OMERS, a Canadian pension plan and one of the largest long-term institutional investors in the world. We are pleased and excited to have ADC & HAS Airports WorldWide as a strategic platform in the execution of our global strategy," said Jacques Demers, CEO of OMERS Strategic Investments.
"This new partnershp brings together capital, operational and development expertise, and a strong brand name, allowing the company to qualify for, pursue and acquire airport concessions and related management and operating agreements on a global basis," stated Jeff Scheferman, CEO of ADC & HAS Airports Worldwide.
In July of 2009, ADC & HAS, in an equal joint venture with its Brazillian partner, Andrade Gutierrez Concessoes, completed the acquisition of the contract for the development, investment and operation of the Juan Santamaria International Airport in San Jose', the capital city of Costa Rica. It also owns a 45% interest in the newly awarded 20-year concession for the Daniel Oduber Quiros International Airport, in Liberia, Costa Rica, which serves the growing tourist market in the northwest sector of the country. In both instances, ADC & HAS Airports Worldwide is the airport operator as well as an equity investor.
About OMERS Strategic Investments
Operating under the OMERS Worldwide brand, OMERS Strategic Investments is responsible for advancing OMERS global footprint on an enterprise-wide basis within Canada and globally with like-minded institutions, developing strategic co-investment relationships and alliances and investing strategically in global access companies that will integrate with and assist OMERS and its investment entities in discovering proprietary investment opportunities.
About HAS Development Corporation
HAS Development Corporation is an affiliate of Houston Airport System, operator of George Bush International Airport, Hobby Airport and Ellington Airport, serving over 53 million passengers annually.
About Airport Development Corporation
Airport Development Corporation is a privately owned Canadian airport developer with over 20 years successful experience in airport privatization It was the developer of Terminal 3 at Toronto's Pearson International Airport and the Terminals at Budapest Airport. Currently, in joint venture with HASDC, it is the operator and investor of Quito International Airport.