Canadian investors Public Sector Pension Investment Board (PSP Investments) and Caisse de depot et placement du Quebec (CDPQ) alongside Singapore’s GIC have sold Budapest Airport to Hungarian state-owned fund Corvinus and Vinci Airports in a €4.3bn deal.

The Budapest Liszt Ferenc International is being sold at an equity value of €3.1bn, plus net debt of €1.2bn to Corvinus and Vinci Airports which will own 80% and 20%, respectively.

Prior to the sale, PSP Investments, through its private industrial airport investment subsidiary AviAlliance, owned a 55.4% stake in the airport with GIC’s subsidiary Malton and CDPQ owning 23.3% and 21.2%, respectively.

Gerhard Schroeder, managing director at AviAlliance, said: “Since our initial investment in 2007, Budapest Airport has grown significantly. Together with our co-shareholders, we have invested a total of more than €700m in the expansion and development of the airport. 

Budapest Airport

Source: AviAlliance

Budapest Airport

“Thanks to this and to the dedication of its excellent management team and employees, the airport has been internationally recognised for its high-quality passenger service. We are convinced that our investments and development plans provide a solid foundation for continued success under the new ownership.”

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