At Least 3 Bidders Remain For Hochtief Airport Unit Sale-Sources
July 29 2011 - 12:56PM
Dow Jones News
At least three bidders are in the running for the sale of
Hochtief AG's (HOT.XE) airport portfolio, and the deal could
conclude as early as September, several people close to the matter
told Dow Jones Newswires Friday, adding .
Airport operator Fraport AG (FRA.XE) and its bidding partner,
Deutsche Bank AG's (DB) infrastructure fund RREEF, as well as
French construction company Vinci S.A. (DG.FR), submitted binding
offers in time for the deadline Thursday, several people close to
the matter said.
A bidding consortium made up of Allianz SE's (ALV.XE) investment
arm Allianz Capital Partners and the infrastructure fund Global
Infrastructure Partners, also submitted a bid, one of the people
said.
A purchase price of up to about EUR1.1 billion is "realistic,"
another person said.
A question mark remains over whether Singapore's Changi Airport
Group or HNA Group, the parent of Hainan Airlines Co.(600211.SH),
China's fourth-largest airline by revenue, also bid for the unit.
Recent media reports indicated the companies were interested in
bidding.
-By Eyk Henning, Dow Jones Newswires: +49 69 29725 511:
eyk.henning@dowjones.com
(Kirsten Bienk, Natali Schwab and Jan Hromadko contributed to
this story.)