BAA ready to outbid Macquarie with ?2 bln bid for Budapest Airport
Friday, October 28, 2005, 10:10
The British Airports Authority (BAA) is ready to offer ?2 billion for Ferihegy airport operator Budapest Airport Rt, whose privatization is again in the pipeline after an earlier scrapped tender, a British daily reported on Sunday. The Sunday Times said BAA, one of the five bidding in an earlier round for Budapest Airport, is trying to outbid Australian Macquarie, which is also in the lead of the bidding competition. The German construction group Hochtief had offered ?1.6 billion in an earlier round of bidding. According to the Sunday Times, that price would value the airport at 20 times its earnings, which is a record price in European terms. The Hungarian government is expected to complete the stalled privatization by the end of the year, with final bids to be collected by mid-November.