Press Releases & News
Flughafen Wien AG hereby announces that it makes an offer conditional to the approval of the Supervisory Board of FWAG to acquire SNC Lavalin Incs stake in Malta International Airport plc ("Malta Airport").
Since the privatisation of Malta Airport in 2002, 40% of it has been held by the consortium company Malta Mediterranean Link Consortium Limited, in which Flughafen Wien AG has a 57.1% holding via its subsidiary VIE (Malta) Limited. Flughafen Wien AG also provides operating management for Malta Airport and directly holds a further 10.1% of the shares in Malta Airport through VIE (Malta) Limited. At present, Flughafen Wien AG's total holding in Malta Airport equals 32.94%.
The Canadian company SNC Lavalin Inc. also has a holding in Malta Mediterranean Link Consortium Limited. The objective of Flughafen Wien AG in making this offer to acquire SNC Lavalin Incs stake in this joint consortium company is to increase its total holding in Malta Airport by a further 15.5%. If this offer were accepted, Flughafen Wien AG's total holding in Malta Airport would reach more than 48%. The precise structure of the transaction has yet to be decided. The purchase price offered is 3.00 per share. Upon successful completion of the transaction its total value would amount to approximately 63 million. In case of a positive conclusion of the final negotiations, the closing can be expected within the next six months.
The outstanding results of Malta Airport and the very good prospects for its future development are the decisive reasons for the proposed share acquisition, according to Julian Jäger and Günther Ofner, Members of the Management Board of Flughafen Wien AG. We are extremely satisfied with the performance of Malta International Airport, and are convinced that this company will continue to show an above-average growth potential in the coming years. Our investment in Malta International Airport represents a strategic investment for us. Our offer for the increase in our stake underlines this clear commitment. The intended transaction should it be successful also reflects our strategy to focus on our two existing investments, and not to acquire stakes in other airports elsewhere.
At present, in addition to Malta, Flughafen Wien AG also holds a majority shareholding in Kosice Airport, which has also made a positive contribution to earnings in recent years.
Malta Airport is operated by Malta International Airport plc, which is registered in Malta. Its shares are listed on the Malta Stock Exchange. 20% of the shares in the company are held by the Government of Malta. The airport handled over 4.3 million passengers in 2014.
Established in 1911 and listed on the Toronto Stock Exchange, SNC Lavalin Inc. is a leading plant engineering and infrastructure group, with some 45,000 employees and offices in more than 50 countries.
Vienna Airport, Austrias largest airport, handled 22.5 million passengers in 2014. Listed on the Vienna Stock Exchange, the company generated revenues of 630.2 million in 2014. In addition to its holding in Malta Airport, Vienna Airport also holds 66% of Kosice Airport in Slovakia. The airport site has over 230 companies with 20,000 employees, including approximately 4,300 employees just at Flughafen Wien AG, making it one of the largest employers in Eastern Austria.
Corporate Communications Flughafen Wien AG
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