25-Oct-2005 10:19 AM
Macquarie Airports bids DKK2,000 per share for Copenhagen Airports
The board of Copenhagen Airports unanimously recommend the offer.
The tender offer, which takes effect as from today and expires on Dec 9 at 8.00 pm Danish time, is conditional on Macquarie Airports Copenhagen owning, or having received acceptances of more than 50 pct of the share capital and voting rights in Copenhagen Airports.
Macquarie Airports Copenhagen is owned by Australian bank Macquarie Bank's Macquarie Airports, an airport fund that is one of the world's largest private airport owners and managers.
Macquarie Airports already owns 14.7 pct of the share capital and voting rights of Copenhagen Airports, while the Danish state holds 39.2 pct of the group.
The offer price represents a premium of around 31 pct compared with Friday's closing price.