Business Express is an online portal that covers the latest developments in the world of business and finance. From startups and entrepreneurship to mergers and acquisitions, Business Express provides reporting on the stories that matter most to business leaders and decision-makers.The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
2023 06 02T015038Z 2 LYNXMPEJ501DX RTROPTP 4 HUNGARY AIRPORT | Business Express

Hungary looking for ‘friendly’ co-investor to acquire Budapest Airport

Hungary looking for ‘friendly’ co-investor to acquire Budapest Airport

BUDAPEST (Reuters) – Hungary’s government is looking for a “friendly” co-investor to acquire Budapest Airport and to then also operate the airport, Economic Development Minister Marton Nagy said on Thursday.

Nagy said the government was seeking a majority stake but the issue was open to negotiation. He said the acquisition could be closed by the end of 2023, with the government in talks with several airport operators, one of them in Qatar.

Since 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. In 2021 Orban’s government submitted a non-binding offer to buy the airport but later the process was halted.

The government revived the idea in February 2023, when Nagy was put in charge of holding talks about the acquisition.

“The state would like to buy the airport together with a friendly co-investor, who could also be able to operate the airport,” Nagy told a briefing.

The biggest shareholder in Budapest Airport, with 55.44%, is AviAlliance GmbH, formerly Hochtief AirPort GmbH, owned by Canada’s Public Sector Pension Investment Board (PSP Investments).

Don't miss out on any breaking news or insightful opinions!
Subscribe to our free newsletter and stay updated on the go!

By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

AviAlliance said on Thursday that the Hungarian “government recently communicated its continuing interest in taking over the airport.”

“Even though the shareholders did not initiate the purchase, AviAlliance and its co-shareholders are obliged to consider any purchase offers in the interest of their funds,” AviAlliance said in an emailed reply to Reuters questions, adding it was a long-term oriented investor in the airport.

On Wednesday, Budapest Airport said it posted a net profit of 76.6 million euros on net sales revenues of 277.7 million euros in 2022, after two years of big losses amid the pandemic. It said it would not pay dividends to its shareholders.


(Reporting by Gergely Szakacs and Krisztina Than; Editing by Ros Russell and Frances Kerry)


Recent Post: