03.11.05
Macquarie Airports, the world's second-largest publicly traded airport owner, withdrew its bid for Budapest Airport. The news comes two weeks after Hungary's government called on five short-listed bidders to resubmit offers.
Macquarie Airports told state-owned Hungarian Privitisation and State Holding Co. that it will not participate in the new round of bidding, the Sydney-based company said in a statement to the Australian Stock Exchange last night. The company did not give a reason for withdrawing.
Hungary received offers as high as 390 billion forint (US$1.8 billion) from BAA, Fraport AG, Copenhagen Airports A/S, Hochtief AG and Macquarie Airports in the aborted bids. Investors are trying to tap growth in east European air travel and Hungary is the first country in the region to put its main airport operator up for sale.
It is the second time Macquarie Airports has pulled out of the race for a European airport in the last two weeks. The company withdrew its bid for Exeter Airport in the UK Oct. 25, saying the regulatory process was taking too long.
Macquarie offered to buy the rest of Copenhagen Airports A/S, Scandinavia's largest airport last month. As part of the deal, Copenhagen agreed to drop out of the bidding for Hungary airport.
