German construction company Hochtief AG (HOT.XE) is reviving the
sale of its airport operations and has invited potential buyers to
submit indicative offers by the end of March, Bloomberg News
reported Thursday on its website, citing three unnamed sources.
Hochtief is working with Deutsche Bank AG (DB) on the sale, the
report cited the sources as saying.
The company had shelved the sale of its airport operations last
year, as bidders including Vinci SA (DG.FR) and China's HNA Group
had offered more than 1 billion euros ($1.32 billion) for the unit,
while Hochtief valued it at as much as EUR1.6 billion, the report
said.
Companies that will likely be invited to submit indicative
offers include Fraport AG (FRA.XE), Deutsche Bank's real estate
investment unit RREEF, Global Infrastructure Partners LLP and the
investment arm of Allianz SE (ALV.XE), which teamed up previously,
as well as the operators of the Shanghai and Singapore Changi
airports, the report quoted one of the sources as saying.
A Hochtief spokesman said he couldn't comment, while
spokespeople from Deutsche Bank, RREEF and Allianz declined
comment, and officials at GIP and the Singapore and Shanghai
airports couldn't be immediately reached for comment, the report
said.
Full story:
http://www.bloomberg.com/news/2013-02-21/hochtief-said-to-revive-airports-sale-with-deutsche-help.html
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