ÁPV to start talks with Air Bridge on Malév sale
Friday, July 29, 2005, 12:23
The State Privatization and Holding Rt (ÁPV) has extended the deadline for the privatization tender of the national air carrier Malév Rt and said it will begin one-on-one talks with Airbridge Rt on the sale after it made the best offer, business daily Napi Gazdaság reported. A joint Hungarian-Russian consortium owned 51% by Hungarian investors and 51% by Russian businessman Boris Abramovich, Airbridge said it was prepared to take over Malév?s entire debt load, estimated at Ft 32 billion-Ft 35 billion, and inject fresh capital into the company. According to Napi Gazdaság, however, Aviation Solution Kft, the other bidder, owned by a consortium of Hungarian investors, have put in the same offer but pledged to invest some Ft 10 billion more into Malév.