Australian pension fund bids on Vienna airport after stake boost

The Flughafen Wien AG (Vienna Airport AG) logo is pictured above the airport headquarters building at Vienna International Airport, December 15, 2010. REUTERS/Lisi Niesner/File Photo

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BERLIN, June 13 (Reuters) – Australian pension fund IFM Global Infrastructure Fund (IFM GIF) is to make a mandatory takeover bid for Vienna Airport AG (VIEV.VI) after increasing its stake in the airport operator affected by the pandemic, he said on Monday.

IFM GIF, a longtime investor, said on Monday it would offer 33 euros ($34.51) per share, but added that it was not seeking a majority and was not waiting for the city of Vienna. , the province of Lower Austria or the employee. Trust to sell their share.

The Austrian capital and neighboring province own 20% each, employees own another 10% of the 84 million shares of Vienna Airport.

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“Despite the difficult economic situation in the aviation industry, we believe in the strong fundamentals of Flughafen Wien and Austria as an investment location,” said Werner Kerschl, executive director of infrastructure at IFM Investors.

Shares of Vienna Airport soared 25% but at 32.80 euros they remained below the offer price.

A spokesperson for the airport operator said the group would comment on the offer in the coming weeks.

($1 = 0.9562 euros)

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Reporting by Kirsti Knolle, editing by Thomas Escritt

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Dolores W. Simon