Hungary's Corvinus Zrt. and Vinci Airports Acquire Budapest Airport for €3.1 Billion

Hungary's state-owned Corvinus Zrt. and French partner Vinci Airports have acquired Budapest Airport from its main shareholder AviAlliance and other minority shareholders for €3.1 billion, including loan extensions worth €1.44 billion. The acquisition aligns with Hungary's strategy to boost national ownership in major sectors.

Hungary's state-owned Corvinus Zrt. and French co-investor Vinci Airports have acquired Budapest Airport from its main shareholder AviAlliance and minority shareholders, AviAlliance said in a statement on Thursday.

The acquisition of the airport cost 3.1 billion euros ($3.37 billion) with an extension of 1.44 billion euros ($1.57 billion) worth of previously issued loans, a statement by the economy ministry said. Corvinus Zrt. became the majority owner of the airport with 80%, with its French partner Vinci holding 20% of the facility.

"The Hungarian government and the French co-investor-operator will work to ensure that Budapest airport will become one of the best airports not only in the region but in the world," the economy ministry's statement said. Prior to the sale, the main shareholder in Budapest Airport with a 55.44% stake had been AviAlliance, owned by Canada's Public Sector Pension Investment Board (PSP Investments).

Malton, a subsidiary of Singapore's GIC Special Investments, controlled 23.33%, while Canada's Caisse de dépôt et placement du Québec held the remaining 21.23%. Since nationalist Prime Minister Viktor Orban took power in 2010, his government has boosted Hungarian ownership in energy, banking, telecoms and the media, and has been planning to buy the airport for years.

($1 = 0.9190 euros)

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