German group Hochtief has launched the sale of its airports business including Athens International Airportlooks to dispose of non-core assets and improve its profile with investors.
According to foreign press, Hochtief –now controlled by the Spanish group ACS) expects revenues of €1.6b through the sale of holdings in five airports.
Besides the sale of its 40% stake in Athens International Airport, the German group plans to sell holdings in Sydney, Hamburg, Düsseldorf, Tirana and Budapest.
According to the same sources, Hochtief has reportedly asked Royal Bank of Scotland and Deutsche Bank to prepare an initial public offering for all of these holdings. This means that it may postpone its decision on the method of disinvestment until it decides which will yield the best value.
It should be noted that German company Fraport, which operates 12 international airports, has expressed interest in the privatization of AIA.
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