Airport deal

24 April 2008

A consortium led by Hochtief AirPort has signed an agreement to acquire UK airport operator, BAA's majority shareholding in Budapest Airport. BAA bought its 75% minus one share holding in the Hungarian airport in December for € 1,9 billion. However, the airport no longer fits with BAA's strategy following the its acquisition by Ferrovial, which intends to focus on its UK airports.

Hochtief AirPort, a wholly owned subsidiary of Hochtief has a 50% interest in the consortium, and its partners are Caisse de depot et placement du Québec and investment group KfW.

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