The deal is done:
Upper Austria Wants to Take Full Control of Linz Airport
Currently, Linz Airport is still owned equally by the State of Upper Austria and the City of Linz. That is about to change: The state is buying the city’s shares for 1.325 million euros. Now the relevant committees and the antitrust authority must still give their approval.
Kronen Zeitung als bevorzugte Google-Quelle hinzufügen The financially struggling Linz Airport is a political hot potato: Passenger numbers are falling, and the airport recently needed a cash injection from its public owners just to stay afloat. For weeks, the State of Upper Austria and the City of Linz have been negotiating a new ownership structure.
Purchase price not yet finalized
An agreement has now been reached: The State of Upper Austria will purchase the City of Linz’s 50-percent stake for 1.325 million euros. This corresponds to the midpoint of the range of liquidation values for the airport determined in a KPMG report—that is, the value if Flughafen Linz GmbH were to be dissolved and all its assets sold. However, the purchase price will not be paid out for the time being and may still change, as the airport is expected to require remediation of contaminated soil—once the costs for this are determined, the purchase price will be finalized.
This is intended to be only an interim step, however: The state plans to sell up to 49 percent of the shares to private investors.
Committees still need to approve
Although the state and the city have agreed on the deal, the sale cannot go through until all necessary resolutions have been passed. On the state’s side, the state government, the state legislature, the transportation holding company, and the state holding company must all give their approval. At the city level, approval from the City Senate and the City Council is required. Antitrust approval is also still pending. However, all of this is likely to be merely a formality.
Quick Agreement
Discussions regarding the restructuring of ownership had been taking place behind the scenes since August. However, an agreement was reached fairly quickly.
Prior to this, the city of Linz had commissioned KPMG to prepare an appraisal to assess the airport’s value. The state, in turn, had this appraisal reviewed by the management consulting firm EY.
This article has been automatically translated,
read the original article here.
Willkommen in unserer Community! Eingehende Beiträge werden geprüft und anschließend veröffentlicht. Bitte achten Sie auf Einhaltung unserer Netiquette und AGB. Für ausführliche Diskussionen steht Ihnen ebenso das krone.at-Forum zur Verfügung. Hier können Sie das Community-Team via unserer Melde- und Abhilfestelle kontaktieren.
Hinweis in eigener Sache: Das krone.at-Forum präsentiert sich ab sofort in neuem Design! Wir freuen uns über konstruktives Feedback. Damit die Diskussionen in den Kommentarbereichen beim jeweiligen Thema bleiben, können Sie uns Rückmeldungen hier hinterlassen.
User-Beiträge geben nicht notwendigerweise die Meinung des Betreibers/der Redaktion bzw. von Krone Multimedia (KMM) wieder. In diesem Sinne distanziert sich die Redaktion/der Betreiber von den Inhalten in diesem Diskussionsforum. KMM behält sich insbesondere vor, gegen geltendes Recht verstoßende, den guten Sitten oder der Netiquette widersprechende bzw. dem Ansehen von KMM zuwiderlaufende Beiträge zu löschen, diesbezüglichen Schadenersatz gegenüber dem betreffenden User geltend zu machen, die Nutzer-Daten zu Zwecken der Rechtsverfolgung zu verwenden und strafrechtlich relevante Beiträge zur Anzeige zu bringen (siehe auch AGB). Hier können Sie das Community-Team via unserer Melde- und Abhilfestelle kontaktieren.