Business News

Airport Operator Privatisation Stake Rises to Over 75%

Ljubljana, 19 December (STA) - A total of 75.5% of airport operator Aerodrom Ljubljana will be put up for sale in the ongoing privatisation procedure after two more shareholders signed up to offload their stakes.

The state-run fund SOD, which is in charge of the privatisation procedure, said Thursday insurer Modra zavarovalnica and the bank Abanka Vipa joined the plan, raising the stake to be sold to 75.5% from 73.3%.

The privatisation was launched with the signing of a shareholder agreement in late October and KPMG was picked this week as financial adviser.

KPMG has previously advised on the sale of Cardiff Airport in Wales and Frankfurt-Hann in Germany, SOD said.

Aerodrom Ljubljana is one of over a dozen majority state-owned firms slated for privatisation, and recent investment roadshows in Italy, Germany and Russia suggest it is among the most interesting acquisition opportunities.

Media reports suggest that the operator of the nearby Venice and Treviso airports, SAVE S.p.A., is interested in the acquisition.

But CEO Zmago Skobir has been rooting for Fraport, the operator of Frankfurt airport, fearing that Ljubljana would be left behind if it is acquired by SAVE.

Aerodrom Ljubljana made a EUR 5.2m net profit in the first nine months this year, more than in the whole of 2012, on the back of a 8.1% year-on-year rise in passenger numbers.

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