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Hochtief AG Gets Bids For Airport Unit-Reuters


Monday, 15 Apr 2013 09:27am EDT 

Reuters reported that Hochtief AG, controlled by Spain's Acs Actividades de Construccion y Servicios SA (ACS), has received bids for its airport unit. Hochtief, which halted the sale of its six airport stakes early last year when it was unable to fetch a price of EUR1.5 billion ($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 EUR1.2 billion in the sale, which Deutsche Bank is organising. Fraport Frankfurt Airport Services Worldwide AG, the operator of Frankfurt airport, Global Infrastructure Partners Ltd (GIP), which owns London's City and Gatwick airports, Canada's Brookfield Asset Management Inc, and insurer Allianz SE have all put in offers.