IFM Global Infrastructure Fund increases offer for Vienna Airport (updated)

Flughafen Wien AG

26/09/2022 09:46

(Adds further details)
       BERLIN, Sept 26 (Reuters) - Airports Group Europe, an
indirect subsidiary of IFM Global Infrastructure Fund (IFM GIF),
has sweetened its bid to obtain a majority stake in Vienna
Airport.
        The group has raised its offer for up to 9.99% of shares
in Flughafen Wien  VIEV.VI  to 34 euros ($32.77) per share,
including the dividend, from 33 euros, it said on Monday.
    That would take its stake, which last stood just above 40%,
to more than 50%. 
        Flughafen Wien's management in August advised
shareholders not to accept IFM's offer because it was too low in
light of the expected further positive development of the
company.
  
    IFM GIF, a long-time investor in Flughafen Wien, said the
increase came in response to a better financial forecast from
the operator of Vienna airport and was its "best and final
price".
    Shareholders had the opportunity to accept the offer within
an extended acceptance period of 10 trading days.
($1 = 1.0376 euros)
 (Reporting by Kirsti Knolle, editing by Rachel More and Miranda
Murray)
 ((kirsti.knolle@thomsonreuters.com;))