The European Bank for Reconstruction and Development (EBRD) has announced a €74.3 million ($87 million) indirect equity investment in SOF Connect, the company operating and managing the Sofia airport through a concession agreement with the Bulgarian government.
Sofia airport is Bulgaria’s main international airport and a focal point for economic development.
The EBRD’s investment consists of a €58 million ($68 million) equity investment and an additional €16.3 million ($19 million) contingent equity exposure. The investment follows a €50 million ($58 million) loan to SOF Connect earlier this year to support the airport’s transformation.
SOF Connect is a joint venture between Meridiam, Munich airport and Austrian construction company Strabag. The joint venture, which was formed in April, has committed to building a new third Terminal over the next 10 years and making environmental, health and safety upgrades at the airport.
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