Hochtief files suit against ÁPV for Budapest Airport sale
Monday, December 19, 2005, 12:29
Germany's Hochtief said on Monday that it has filed a suit against Hungary's
privatisation agency ÁPV for awarding the contract for a majority stake in Budapest Airport to British airport operator BAA, press agencies reported from Düsseldorf on Monday. BAA International and ÁPV signed on Sunday a £1.26 billion contract for a 75%-minus-one-vote stake in Ferihegy Airport operator Budapest Airport, some of the airport's tangible assets and a 75-year contract to operate the airport, on Sunday. Hochtief was one of three bidders making binding bids in the sale. Hochtief launched the case because it has doubts whether the winner of the tender met the strict conditions specified in the bid invitation.