Hungary, French co-investor Vinci Airports acquire Budapest Airport
Adds further details, background, quote
BUDAPEST, June 6 (Reuters) -Hungary's state-owned Corvinus Zrt. and French co-investor Vinci Airports have acquired Budapest Airport from its main shareholder AviAlliance and minority shareholders, AviAlliance said in a statement on Thursday.
The acquisition of the airport cost 3.1 billion euros ($3.37 billion) with an extension of 1.44 billion euros ($1.57 billion) worth of previously issued loans, a statement by the economy ministry said.
Corvinus Zrt. became the majority owner of the airport with 80%, with its French partner Vinci holding 20% of the facility.
"The Hungarian government and the French co-investor-operator will work to ensure that Budapest airport will become one of the best airports not only in the region but in the world," the economy ministry's statement said.
Prior to the sale, the main shareholder in Budapest Airport with a 55.44% stake had been AviAlliance, owned by Canada's Public Sector Pension Investment Board (PSP Investments).
Malton, a subsidiary of Singapore's GIC Special Investments, controlled 23.33%, while Canada's Caisse de dépôt et placement du Québec held the remaining 21.23%.
Since nationalist Prime Minister Viktor Orban took power in 2010, his government has boosted Hungarian ownership in energy, banking, telecoms and the media, and has been planning to buy the airport for years.
($1 = 0.9190 euros)
Reporting by Gergely Szakacs and Boldizsar Gyori
Editing by Chris Reese
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
