VINCI concludes financing of new business centre for car rental operators at the Nice Côte d’Azur airport 13 November 2008

Rueil-Malmaison, 13 November 2008 Press release VINCI concludes financing of new business centre for car rental operators at the Nice Côte d’Azur airport  •    Nice Côte d’Azur airport is the French market leader in car rental. •    Works will start 17 November 2008 and take 28 months to complete. •    The Public-Private Partnership is for […]

Rueil-Malmaison, 13 November 2008

Press release

VINCI concludes financing of new business centre for car rental operators at the Nice Côte d’Azur airport 

•    Nice Côte d’Azur airport is the French market leader in car rental.
•    Works will start 17 November 2008 and take 28 months to complete.
•    The Public-Private Partnership is for 32 years.


Park Azur, a subsidiary of VINCI Concessions, has concluded the financial package for the new business centre for car rental operators at the Nice Côte d’Azur airport, for which the building permit was obtained on 8 August 2008. The total investment will be €45 million.

The financing package comprises senior debt, without recourse against shareholders, of €33 million with a maturity of 28 years. Park Azur will be remunerated by the rent paid by the car rental companies using the new centre.

The 32-year contract is in the form of an authorisation to temporarily occupy publicly owned land with the right to build (an “AOT”), accorded by Société Aéroports de la Côte d’Azur (SAACA). It covers the financing, construction and operation of a 60,000 square metre, three storey building that will meet the needs of the growing business activity of the car rental companies. Nice airport is already, along with Paris-CDG, the French market leader in car rental.

The works will be carried out by a group of local subsidiaries of VINCI Construction France. The architects are Georges Dikansky and Frédéric Génin. The total cost of the works amounts €36 million.

The contract was won by combining the VINCI ’s competencies in concession projects with those of VINCI Airports in airport development combined with the close-knit network of VINCI Construction France subsidiaries in the Provence-Alpes-Côte d’Azur region.

This contract demonstrates the relevance of VINCI’s integrated concession operator-construction company model, as well as the partnership spirit that is the basis for the company’s expansion in airport activities in France.

Press contact : Estelle Ferron-Hugonnet
Tel : +33 1 47 16 32 41
Fax : +33 1 47 16 33 88
Courriel : estelle.ferron@vinci.com