* Fraport, GIP, Brookfield, Allianz put in tentative offers
* Hochtief could fetch as much as 1.2 billion euros -
* Hochtief shake-up driven by new owner ACS
By Arno Schuetze
FRANKFURT, April 15 German builder Hochtief
, controlled by Spain's ACS, has received bids
for its airport unit, two people with knowledge of the matter
Hochtief, which halted the sale of its six airport stakes
early last year when it was unable to fetch a price of 1.5
billion euros ($2 billion), is trying again to sell its stakes
in airports in Duesseldorf, Hamburg, Budapest, Sydney and
Tirana. It has for now given up on looking for a
buyer for Athens airport.
A source representing a potential buyer of the assets has
said Hochtief could now fetch as much as 1.2 billion euros in
the sale, which Deutsche Bank is organising. Deutsche
Bank declined to comment on the matter.
Fraport, the operator of Frankfurt airport, Global
Infrastructure Partners Ltd (GIP), which owns London's City and
Gatwick airports, Canada's Brookfield Asset Management
, and insurer Allianz have all put in offers,
the sources said.
One additional bidder has put in a tentative offer for only
the German operations up for sale, one of the sources said.
Hochtief, Fraport and Allianz declined to comment, while GIP
and Brookfield were not immediately available for comment.
Hochtief Chief Executive Marcelino Fernandez Verdes, who
took the top job in November, is leading a drive to shed
airports and real estate development businesses to cut the
company's debt while making it a leading global infrastructure
Fraport said last month it was considering buying more
stakes in airports, citing Brazil among other places.
Allianz has said in the past that investments in airports
and highways could fit into its alternative investment strategy,
but that it would generally look for an industry partner to
actually run the acquired assets.
French construction group Vinci, China's HNA
Group, parent of Hainan Airlines, and a consortium
of airport operator Fraport and Deutsche Bank
fund RREEF were among the bidders last year before
the sale was suspended.
Vinci late last year sealed a deal to buy Portugal's
airports operator ANA for 3.08 billion euros.
Verdes was made CEO of the construction and industrial
services provider in November to review the company's strategy,
in a push by indebted majority owner ACS to make the 2011
takeover of Hochtief pay off.