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Hochtief airport unit attracts three bids

1-Aug-2011 11:29 AM

Hochtief has attracted at three offers for its airport unit, including bids from Fraport and Vinci (Reuters, 30-Jul-2011). The deadline for submitting bids was Friday 29-Jul-2011. Hochtief was seeking a price over EUR1 billion, but the offers have reportedly been below this level. Hochtief has reportedly shelved plans for an initial public offering for its Concessions unit, of which the airports business is a part. A Hochtief spokesman said that both an IPO and a sale remain an option for Concessions. Bidders are reportedly deterred by Hochtief’s minority stakes in various airports.