 |
AirTalk.org
Aviation discussions newsgroups
|
| View previous topic :: View next topic |
| Author |
Message |
Jim Mason
Guest
|
 Posted: Wed May 09, 2007 6:50 pm Post subject: BAA announces sale of Budapest Airport for £1, 309 million |
 |
|
BAA announces sale of Budapest Airport for £1,309 million
BAA Press Release 09/05/07
BAA today announces that it has agreed to sell Budapest Airport to Airport
Holding Kft, a consortium led by Hochtief AirPort GmbH for £1,309 million.
BAA acquired Budapest Airport in December 2005 for £1,3091 million and is
selling the airport following BAA’s takeover in 2006 by ADI and the decision of
its new owners to focus on BAA’s seven UK airports. The gross assets of
Budapest Airport which are the subject of the disposal were £1,460m at the end
of December 2006 and the operating profit was £33.6 million.
The consideration of £1,309 million comprises £1,020 million in cash which will
be used to pay down debt subject to the conditions of ADI’s funding agreements.
The remaining £289 million is provided in the form of loan notes with a
maturity date in June 2011.
Approximately 77% of the loan notes will be sold at completion at or close to
par. The remaining loan notes will be held by BAA at completion for subsequent
selldown. This disposal is conditional and is expected to complete by the end
of May.
Notes to Editors
1 Enterprise value comprised £1,255 million cash and assumed debt of £54
million.
--
Remove `spamtrapped` to reply off-list
http://jim-mason.fotopic.net/ |
|
| Back to top |
|
 |
|
|
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
