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Eleven set to bid in Budapest Airport privatization

Eleven companies have expressed interest in bidding for the government's majority stake in Budapest Airport, operator of Budapest's Ferihegy International Airport, Péter Oravecz the communications director of the state privatization company APV announced on Tuesday. APV is due to name the companies it pre-qualifies to enter the bidding by July 12. Non-binding bids will be accepted until August 9, and the shortlisted bids will go into a final round of bidding that closes on November 2, Oravecz said. As BBJ online has already reported, the stake offered is 75 % minus one vote, which APV plans to top off to 100 % later on, if the law allows it to do so. Although APV did not name any of the potential bidders, Frankfurt Airport operator Fraport, Copenhagen Airport operator CPH International, BAA International, the operator of London's Heathrow Airport and German construction giant Hochtief were reported to have expressed interest in the sale. Press reports suggest that Euroinvest, a company owned by Sándor Demján, Hungary's richest man, Spain's Albertis or Ferrovial, Australia's Macquarie, Italy's Ave, the Changi-Bechtel group and Austria's Flughafen Wien may also be among potential bidders. Privatization of Budapest Airport is expected to generate revenue of over a hundred billion forints, out of a year-end privatization target of Ft 300 billion.