Fraport no longer in running for Budapest Airport
Tuesday, December 6, 2005, 10:07
Fraport AG dropped out of the running to buy Budapest Airport Rt, operator of the Hungarian capital's international airport, news agency Reuters reported. BAA Plc, operator of London's Heathrow airport, and Hochtief AG, are still competing for the 75% minus one vote stake in Budapest Airport, with BAA expected to win, Reuters reported. Fraport, BAA and Hochtief submitted binding bids November 14 for the Hungarian government's stake in Budapest Airport. BAA submitted a solo offer, while Fraport bid with Deutsche Bank AG and Hochtief with Canada's Caisse de Depot et Placement du Quebec. BAA put forth the highest bid at Ft 400 billion ($1.9 billion), Népszabadság reported December 1. The winner gets a 75-year license to operate and develop Hungary's main airfield.