EXCLUSIVE – Shareholder’s warning: Budapest Airport’s purchase may not happen
Change language:
According to Hungary’s Ministry of National Economy, the government may sign the relevant contract to buy Budapest Airport this spring. However, one of the shareholders sent us a message in which they clear that may not happen.
Márton Nagy, Hungary’s minister of national economy, a new ministry created after the Christmas festivities by PM Orbán, said the government would sign the relevant contracts with the shareholders of the Budapest Airport this spring. There are three shareholders: the German AviAlliance (54.44%), a Canadian pension fund, the Canadian Pension fund Public Sector Pension Investment Board (PSP Investments, 21.23%), and Malton (Singapore) with 23.33%.
Mr Nagy added that negotiations were in a state that a contract might be signed soon. PM Orbán said on his 21 December international press conference that the airport’s purchase is a “finished issue”. He added only technicalities remained to discuss and agree on.
The European Commission approved the purchase of Hungary’s main airgate last December. The buyers will be the Hungarian state-owned Corvinus Investments and the French Vinci Airports. The majority of the shares will be in Hungarian hands, while the French will operate the airport. We wrote about that HERE.
The Hungarian government said they would include a Qatar state-owned investments fund. Furthermore, the Orbán cabinet promised to build a new terminal after the acquisition, airportal.hu wrote. Hvg.hu added that the Qatar fund would join the project as a financial or strategic investor.
Shareholder’s warning: Budapest Airport’s purchase may not happen
We received a letter lately from one of the shareholders of the Canadian pension fund writing that the purchase of the airport is not as sure as PM Orbán suggested at the last December press conference. Here is their unchanged email:
“I’m a share holder in the Canadian Pension fund Public Sector Pension Investment Board (PSP Investments) Canada. Shareholders still have not voted yet on the proposed offer from Hungarian authorities. It’s not a done deal.