Hong Kong's China Everbright takes over Albania's airport

Markets Associated Press

Albania's Tirana International Airport Mother Teresa says it has been taken over by Hong Kong-based investment firm China Everbright Ltd., or CEL.

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A statement Friday said that CEL "has acquired 100 percent of the shares in TIA," but provided no details of the deal.

Since 2005, Tirana International Airport has been managed and operated by a private consortium called Tirana International Airport, or TIA, with a 20-year concession that was extended this year by two years until 2027.

The TIA has increased passenger numbers from 600,000 in 2005 to 1.9 million in 2015, operating with 13 airlines in 26 destinations.

CEL, established in 1997, is the international investment arm of the China Everbright Group.