REAL ESTATE ASSETS AND FACILITIES 08 ENVIRONMENTAL CONSTRAINTS
Retrocession of a portion of gains that may be made from the closing of all or part of an aerodrome operated by Aéroports de Paris to public air traffic The agreement entered into on 30 March 2006 between the Government authorities and Aéroports de Paris pursuant to article 3 of the Law of 20 April 2005 provides that, for a 70-year period, in the event of the closing to public air traffic of all or part of an aerodrome operated by Aéroports de Paris, Aéroports de Paris will pay the government 70% of the difference between the effective market value of the buildings that are no longer assigned to airport public service, as well as the reference value of such buildings as indicated in the balance sheet assets at 31 December 2004 as approved by the General Meeting of Shareholders of Aéroports de Paris on 23 December 2005, plus costs related to their restoration and the closing of airport facilities. The assets that fall within the scope of this provision will then be determined by a committee of appraisers, who will also be asked to check that they have been valued correctly.
of which €25 million was payable in cash and €25 million upon transfer of legal ownership on 1 July 2016 (with a right of occupancy granted the seller until 31 March 2017 in exchange for a single payment of €500,000), the balance of the sale price, or €2.1 million, being withheld against penalties as of 1 April 2017 should the seller fail to vacate the building. At 31 December 2017, the net value of land and improvements (investment property included) totalled €115 million, buildings (investment property included) totalled €5 million and technical facilities and other (investment property included) amounted to €422 million and assets under construction (investment property included) totalled €1,055 million. Fixed assets and investment property are described in Note 6 to the consolidated financial statements.
Environmental restrictions may result from international, European or national laws and regulations (ICAO). As at the date of filing of this Registration Document, these constraints were compatible with the current and future use of the facilities of Aéroports de Paris. Only more
restrictive regulations could limit the capacities of use of the Aéroports de Paris airports beyond the current situation 1 .
1 See the paragraph in Chapter 4 “Risks related to the business of Aéroports de Paris”.
AÉROPORTS DE PARIS REGISTRATION DOCUMENT 2017
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