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Britain's BAA offers highest bid for Budapest Airport

Britain's BAA International is the actual winner of the Budapest Airport tender. The British company put in the highest bid for Budapest Airport, offering Ft 464.5 billion (€1.83 mln) for the assets and for the right to manage the airport's operation for 75 years, state privatisation agency ÁPV Rt announced. Bids for the 75%-minus-one-vote stake were submitted by the UK's BAA International, the operator of London's Heathrow Airport, a consortium of Frankfurt Airport operator Fraport AG Frankfurt Airport Worldwide and HAH Limited, a UK unit of Deutsche Bank, and a consortium of Germany's Hochtief Airport GmbH, Hochtief Airport Capital and Canada's Caisse de depot et placement du Quebec. The offer price did not include development costs.