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Dec 21, 2005
A Reuters report has revealed that
airport operator BAA has completed its biggest-ever acquisition with the
signing of a deal to acquire control of Budapest Airport Rt, the company
operating Budapest's fast-growing main airport, for $2.2 billion (1.24 billion
pounds).
Citing a statement issued by state
privatization agency APV, the Reuters article says BAA is paying 464.5 billion
forints (1.24 billion pounds) for 75 percent minus one share in Budapest
Airport Rt, for the right to operate the airport for 75 years and some related
assets. The deal is Hungary's
biggest single privatization and BAA's largest acquisition to date. BAA
officials said the deal was promising as the Hungarian capital's airport, whose
site about equals that of Heathrow, had large potential for business and
efficiency expansion and good prospects to become Central
Europe's main hub, according to the Reuters report.
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