LISBON Nov 15 Portugal took a further step
towards selling airport operator ANA, picking five out of eight
preliminary bidders to make binding bids in a sale that could
make over 2.5 billion euros for the indebted state.
The government said potential bidders included German
airport operator Fraport, French construction firm
Vinci and Zurich airport operator Flughafen Zurich
The other two are the Blink consortium that includes
Portuguese builder Mota-Engil and Colombian
construction company Odinsa, and the Eama consortium grouping
Argentinian infrastructure group Corporacion America and
Portuguese group Sonae, among others.
Brazilian firms that sources said were among potential
bidders were apparently left out.
Treasury Secretary Maria Luis Albuquerque said some of the
offers were 12 to 13 times ANA's earnings before interest,
taxes, depreciation and amortization (EBITDA), which puts them
between 2.4 billion euros and 2.6 billion euros ($3.05 and $3.31
billion) based on ANA's 2011 EBITDA of 200 million euros.
"The selected offers coincide with the best prices at this
nonbinding phase, but they also take into account the strategic
point of view," she said. "Binding offers have to be presented
Lisbon has already sold large stakes in power companies EDP
and REN, mainly to Chinese investors, as a
condition of its 78 billion euro international bailout.
It is betting on infrastructure deals to cut its debt as
demand for regulated assets in Europe has remained strong
despite the region's debt crisis.
($1 = 0.7856 euros)
(Reporting By Sergio Goncalves; Writing by Andrei Khalip;
Editing by Helen Massy-Beresford)