28-Sep-2011 12:19 PM

Hochtief CEO sees sale of airport unit in 'next couple of weeks'

Germany's Hochtief CEO Frank Stieler stated the company is in final negotiations to sell its airport unit and expects to sell the division in coming weeks. "We are holding final talks and will be signing (the sale contract) in the next couple of weeks," Mr Stieler was reported in news wire services.

The sale will not be impeded by the quality of the assets or the availability of financing, he said. According to reports, HNA Group and Vince remain contenders in the sale, with offers of almost EUR1.5 billion. Hochtief had previously stated it has received "strong offers" and that it was pleased with the bidding process.

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