Hochtief no to sell stake in Budapest Airport


German construction group Hochtief has decided not to sell its stakes in airport operator companies including Budapest Airport Zrt for the moment.

German press reports on Monday said the company had changed its earlier plans due to the challenging economic situation.

Hochtief holds a 49.66% stake in Budapest Airport, and also has holdings in companies operating airports in Athens, Dusseldorf, Hamburg, Sydney and Tirana.

The company reorganised its airport assets into a unit called Hochtief Concessions earlier and planned to sell the unit in 2011. China’s Hainan Airlines and France’s construction group Vinci got into the final round of the tender.

The seller was hoping to raise €1.5bn from the transaction, but financing such deals has been made difficult by the euro zone sovereign debt crisis to such an extent that the company could only have been sold well under the targeted price.

The plan has therefore been shelved for the meantime even though this means that Hochtief will post losses of €100m in the 2011 business year instead of the planned profits, the press reports said.


Gen Gov't Deficit to Reach 6.1% of GDP in 2022 - Varga Analysis

Gen Gov't Deficit to Reach 6.1% of GDP in 2022 - Varga

Horthy Statue to be Unveiled in Parliament Parliament

Horthy Statue to be Unveiled in Parliament

UPS Appoints Regional Director Appointments

UPS Appoints Regional Director

2 Protests to Take Place in Budapest on Aug 20 City

2 Protests to Take Place in Budapest on Aug 20


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.