Hungary and Vinci Buy Budapest Airport in $4.7 Billion Deal
- Premier Orban had championed the hub’s acquisition for years
- Deal is likely first step in Hungary’s push to expand airport
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Hungary and French construction giant Vinci SA bought Budapest Airport Zrt. in a €4.3 billion ($4.7 billion) deal, handing a major asset to Prime Minister Viktor Orban who had long coveted the hub.
The buyers paid €3.1 billion for the airport and assumed a net debt of €1.2 billion, according to a government statement. Bloomberg was first to report the valuation earlier on Thursday. The sellers were AviAlliance GmbH, the German operator of the Hungarian hub, as well as Singapore sovereign wealth fund GIC Pte and Canada-based Caisse de Depot et Placement du Quebec.