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NEWS Last modified on June 10, 2011

Hochtief to buy more shares in Budapest

The Hungarian government has confirmed it will sell its remaining 25% stake in Budapest's Franz Liszt International Airport to Hochtief.

By Oliver Clark.


The Hungarian government has confirmed it will sell its remaining 25% stake in Budapest's Franz Liszt International Airport to Hochtief.

 

The government has announced it will call its option to sell the stake, valued at about 36.6 billion forint ($200 million), to Hochtief by the June 18 deadline set when the majority of the equity was sold in 2005.


A Hochtief spokesman said the acquistion of the 25% stake had been part of its calculations since it first invested in the airport and that with the decision by the government 'clarity has been established now'.


 

Hochtief’s Hungarian unit owns 37.7% of the airport, as well as holdings in Athens, Tirana, Dusseldorf, Hamburg and Sydney.


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