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BAA poised to agree Budapest airport dealBAA poised to agree Budapest airport deal
Tina Milton
9-Dec-2005
BAA is the favourite to win the three-way battle for Budapest airport with an offer of about £1.25bn ($2.1bn)
UK airports group BAA is poised to secure a deal with Hungarian privatisation agency Állami Privatizációs és Vagyonkezelö (APV) for a 75% stake (minus one share) in Budapest Ferighy airport after it submitted a £1.25bn ($2.1bn) bid. The deal also includes a 75-year asset management contract and associated moveable assets. Construction group Hochtief and Frankfurt airport operator Fraport are the other contenders for the contract.
BAA is in discussions with APV to agree terms and reports indicate the deal, if successful, will be BAA's biggest overseas investment. A decision is expected from the Hungarian government today.
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