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Hochtief drops case against ÁPV

German construction giant Hochtief has withdrawn its court case against the State Privatization and Holding Rt (ÁPV) disputing the results of a tender for the sale of Budapest Airport in November 2005, the Budapest Municipal Court announced on Friday.

Hochtief filed the suit in December. UK airport operator BAA Plc won 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 with a bid of GBP 1.26 billion.