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Hochtief to launch airports IPO by the end of the year

23-Sep-2009 11:02 AM

Germany’s Hochtief announced plans to launch an initial public offering (IPO) of its airports division, which it values at EUR1.54 billion, by the end of 2009 (Reuters, 22-Sep-09). A shortlist of banks already selected to manage the IPO reportedly includes Deutsche Bank, Commerzbank, Morgan Stanley and HSBC. Hochtief holds stakes in airports in Hamburg, Athens and Sydney.