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| Hochtief to acquire a majority shareholding in Budapest Airport Hochtief AirPort-led consortium has signed a Memorandum of Understanding with BAA for the potential acquisition of BAA's interests in Budapest Airport, the biggest international airport in Hungary. Hochtief AirPort is a 100 percent subsidiary of Hochtief Aktiengesellschaft. Hochtief AirPort's participation in the consortium is almost 50 percent. The other consortium members are Caisse de dépôt et placement du Québec, Montréal, and KfW, Frankfurt. BAA holds 75 percent minus 1 share of Budapest Airport. BAA purchased this participation in the privatization of Budapest Airport for a consideration of approximately EUR 1.9 billion in December 2005. BAA and the Hochtief consortium seek to finalize the acquisition in the fourth quarter of 2006, subject to Hungarian government consent. write your comments about the article :: © 2006 Construction News :: home page |