25-Oct-2005 10:21 AM
Copenhagen Airports withdraws from Budapest Airport bidding after Macquarie bid
Analysis
COPENHAGEN (AFX) - Copenhagen Airports AS said its board of directors have decided not to participate in the privatisation process of Budapest Airport after Macquarie Airports Copenhagen earlier today launched a bid for the Danish airport operator.
Copenhagen Airports was one of five companies selected to bid for the airport in Budapest.
Macquarie Airports Copenhagen, which is owned by Australian bank Macquarie Bank's Macquarie Airports, has offered 2,000 dkr per Copenhagen Airports share.
The offer is unanimously recommended by the board of Copenhagen Airports.
Copenhagen Airports also said it has suspended its share buy-back programme during the offer period, which expires on Dec 9.