Airports Group Europe has bought more shares in Vienna International Airport and increased its stake to 40 percent. 

According to Austrian law, the Australian fund is legally obliged to make a takeover bid, "however, we are not aiming for majority control of the company," according to a press release from the infrastructure investment fund. Specifically, the fund recently bought further shares in the airport via its subsidiary Airports Group Europe. With the 40 percent threshold being exceeded, the mandatory takeover bid has now become effective.

It is very unlikely that the Australian fund could actually take over the majority of the shares. It is not expected that the city of Vienna, the state of Lower Austria and the employees who hold shares through a foundation will sell, according to the press release. Vienna and Lower Austria each hold 20 percent of Vienna-Schwechat Airport (Bruck/Leitha district), ten percent are owned by the employee participation private foundation and a further ten percent in free float. Lower Austria, Vienna and Personal come together to hold 50 percent of the shares.

Shares soared after the offering

The Airports Group Europe offers to buy the shares for 33 euros each. The offer is thus well above the most recent value traded on the stock exchange. The shares were traded for around 26 euros on Monday morning. After the takeover bid, the share price shot up rapidly and broke through the EUR 32 threshold on Monday morning.

The Airports Group is a subsidiary of the IFM Global Infrastructure Fund, which among other things invests in Australian pension funds. In the airport's 2021 annual report, the fund still reported a 39,8 percent stake in the airport. From Vienna-Schwechat Airport it is said on Monday afternoon that the board of directors will have an expert opinion drawn up within the framework of the stock exchange regulations and will issue a statement in the coming weeks.