Trbusiness. The travel retail Trbusiness. The magazine for global retail and duty free professionals.Budapest bids are high
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The Hungarian Government has expressed delight at the number and levels of bids for Budapest Airport.
Hungary's largest government sell off to the private sector received five offers from airport operators that will now move into a second round where bidders are allowed to raise, but not lower their original offers. According to the government's privatisation agency APV, bids ranged between F.202bn to F.390bn ($1bn to $1.96bn) with even the lowest offer exceeding the State's initial estimates.
The top bid is apparently equal to 32 times Budapest Airport's 2004 pre tax profit of F12.1bn, which could signal one of the most expensive airport deals in recent years. Companies in the running include BAA International, Copenhagen Airports, Fraport/Deutsche Bank, Macquarie Airports, and Hochtief AirPort/Hochtief AirPort Capital GmbH. Meanwhile, a separate effort to sell off the State owned national airline Malev has failed, with offers deemed too low and the carrier withdrawn from sale.
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