After more than a year of intensive negotiations, the sale and purchase agreement for Budapest Airport Zrt. was signed on Thursday, Hungary's Ministry of National Economy said in a statement. The Hungarian state acquired an 80% stake at a purchase price of €3.1 billion (HUF 1,207.5 billion), and the €1.44 billion (HUF 560.93 billion) loan taken out by the previous owners was extended.
The renationalisation of Budapest Airport Zrt. is the most complex and largest economic transaction since the change of regime in 1990. The negotiations between Corvinus International Investment Ltd. and VINCI Airports took place in two rounds. The deal was concluded with an international vendor group comprising AviAlliance, GIC and CDPQ.
In addition, the closing of the transaction was facilitated by an agreement reached with the international lenders who were financing the airport. The transaction volume is also a record for Central Europe, the government said in the announcement.
As all terms of the agreement have already been met, the transaction was completed, Germany's AviAlliance said in a statement shortly after the ministry's announcement.
AviAlliance, a wholly-owned subsidiary of PSP Investments, is one of the world's leading private industrial airport investors and operators. The company participates in airport privatisations worldwide and acquires interests in airport. AviAlliance has an international airport network, currently managing stakes in the airports of Athens, Düsseldorf, Hamburg, and San Juan (Puerto Rico). In 2023, these four facilities together handled 73 million passengers.
