Flughafen Wien AG makes offer to increase its holding in Malta Airport

Flughafen Wien AG announced (24-Aug-2015) that it makes an offer conditional to the approval of the Supervisory Board of FWAG to acquire SNC Lavalin Inc's stake in Malta International Airport plc. Since the privatisation of Malta Airport in 2002, 40% of it has been held by the consortium company Malta Mediterranean Link Consortium Limited, in which Flughafen Wien AG has a 57.1% holding via its subsidiary VIE (Malta) Limited. Flughafen Wien AG also provides operating management for Malta Airport and directly holds a further 10.1% of the shares in Malta Airport through VIE (Malta) Limited. At present, Flughafen Wien AG's total holding in Malta Airport equals 32.94%. SNC Lavalin Inc also has a holding in Malta Mediterranean Link Consortium Limited. The objective of Flughafen Wien AG in making this offer to acquire SNC Lavalin Inc's stake in this joint consortium company is to increase its total holding in Malta Airport by a further 15.5%. If this offer were accepted, Flughafen Wien AG's total holding in Malta Airport would reach more than 48%. The precise structure of the transaction has yet to be decided. The purchase price offered is EUR3.00 per share. Upon successful completion of the transaction its total value would amount to approximately EUR63 million. In case of a positive conclusion of the final negotiations, the closing can be expected within the next six months. [more - original PR]