The owners of Budapest Airport (BUD) have entered into a due diligence process with the Hungarian government.
Currently, the Hungarian government does not hold any stake at the airport.
AviAlliance, owned by the Canadian Public Sector Pension Investment Board (PSP Investments) has the largest holding in BUD airport at 55%.
Singapore state investment fund GIC Special and Caisse de dépôt et placement du Québec (CDPQ) both own more than 21% stakes each.
image from AviAlliance
In October 2021, a consortium headed by the Hungarian Government reportedly made a bid of nearly $4.6 billion (€4 billion) to obtain the control of BUD completely.
Included in this consortium was US-Hungarian property developer Indotek, led by billionaire Daniel Jellinek, and oil and gas giant MOL.
“The Hungarian government has accepted our terms and conditions for starting formal negotiations. Therefore we have decided to enter into a due diligence process,” AviAlliance said in a statement to Reuters.
“While this is potentially the first step towards the sale of the airport, we want to emphasise that the outcome of such a process is not predetermined.”
AeroTime has reached out to AviAlliance for more details of the terms and conditions.