Hungary sells remaining stake in Budapest airport

10th June 2011, Comments 0 comments

Hungary has decided to sell its remaining stake of 25 percent plus one share in Budapest airport to the consortium of other shareholders, the National Development Ministry said Friday.

The Budapest Liszt Ferenc airport -- Hungary's largest -- was privatised in 2005 and a consortium led by Hochtief AirPort, a unit of German construction giant Hochtief, acquired a majority stake of 75 percent minus one share in 2007.

The Hungarian state has decided to exercise its so-called "put" option and sell its stake, which is valued at 38.6 million forint (138 million euros, $200 million), to the other owners by June 18, the ministry said in a statement.

© 2011 AFP

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