Hochtief offer for Budapest Airport approaching 'finishing line' |
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Mon, 16 Apr 2007 13:42
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BUDAPEST (Thomson Financial) - Hochtief Airport GmbH's offer for Budapest Airport is approaching the 'finishing line' and will be announced in the 'coming days and weeks,' said Hochtief Airport spokesperson, Donatella Gasser.A consortium led by Hochtief received approval from Hungarian authorities to take over Budapest Airport from Grupo Ferrovial SA unit BAA late last week.BAA purchased a stake of 75 pct minus one vote in Budapest Airport from the Hungarian state in December 2005, with the condition that it could only re-sell the concern with the permission of Hungarian authorities.The price of the 75-year asset management contract was 1.255 bln stg, a record in Hungarian privatization history.The consortium, led by Hochtief, includes Caisse de depot et placement du Quebec, Germany's Kreditanstalt fuer Wiederaufbau, and Singapore's GIC Special Investment Pte Ltd and Malton Investment Pte Ltd.edward.krudy@thomson.comek1/icCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Hochtief bid for Budapest Airport cleared by Hungarian government UPDATE 