Flughafen Wien, the operator for Vienna International Airport in Austria, has made an offer to acquire the shares held by Canadian-based engineering firm SNC Lavalin in Malta International Airport.
Since the privatization of Malta Airport in 2002, 40% of its shares have been held by a consortium called Malta Mediterranean Link Consortium Limited, in which Flughafen Wien has a 57.1% holding via its subsidiary VIE (Malta) Limited. Flughafen Wien also holds an extra 10.1% of shares directly. The operator’s total holding in Malta Airport equals 32.94%.
SNC Lavalin is also part of Malta Mediterranean Link Consortium Limited and it is the intention of Flughafen Wien to acquire the engineering company’s stake and increase its total holding in Malta Airport by a further 15.5%. The purchase price offered is €3.00 (US$3.40) per share, with a total value of approximately €63m (US$72m).
Julian Jäger and Günther Ofner, members of the management board of Flughafen Wien, said, “We are extremely satisfied with the performance of Malta International Airport, and are convinced that this company will continue to show an above-average growth potential in the coming years. Our investment in Malta International Airport represents a strategic investment for us.
“Our offer for the increase in our stake underlines this clear commitment. The intended transaction – should it be successful – also reflects our strategy to focus on our two existing investments, and not to acquire stakes in other airports elsewhere.”
