Flughafen Wien board reiterates its call not to accept IFM's takeover offer (updated)

Flughafen Wien AG

24/01/2023 10:10

(Adds background, details, share value)
       Jan 24 (Reuters) - Flughafen Wien's  VIEV.VI  management
board reiterated its advice not to accept IFM Global
Infrastructure Fund's takeover offer, the Austrian airport
operator said on Tuesday.
    The Austrian group cited the offer's valuation of 34 euros
per share, deeming it too low, as well as a potential delisting
from the Vienna Stock Exchange as contrary to the interests of
the firm.
    Furthermore, Austria's economy ministry sent its conditions
to the bidder, insisting that IFM could not nominate more than
two candidates for elections to the supervisory board and may
not propose any changes to the articles of association, IFM said
earlier on Tuesday.
        There would be reporting obligations to the ministry, in
particular regarding compliance with the conditions, it added.
  
    IFM holds 40% of Flughafen Wien's stock. The city of Vienna
and the region of Lower Austria each hold 20%.
        Flughafen Wien's share closed at 33.95 euros on Monday.
  
 (Reporting by Tristan Chabba in Gdansk
Editing by Paul Carrel)
 ((Tristan.Chabba@thomsonreuters.com;))