The Australian fund IFM, which recently increased its stake in Vienna Airport to over 40 percent through acquisitions on the market, intends to increase its stake by another 10 percent.
A corresponding partial offer was announced on Wednesday via the subsidiary Airports Group Europe. It is in line with the publicly communicated goal of Airports Group Europe not to seek majority control of the company. It also reflects public statements by the City of Vienna, the Province of Lower Austria and the Employee Foundation that they do not intend to accept the offer. Airports Group Europe therefore assumes that the partial offer will only be accepted by free float shareholders, as the press reports. As a result, Airports Group Europe could possibly acquire 50 percent of the shares in the airport.
The city of Vienna and the state of Lower Austria each hold 20 percent at the airport, the employee foundation another 10 percent and the IFM just over 40 percent. Around 10 percent are in free float. The previously communicated offer price of EUR 33 per share remains unchanged and corresponds to a premium of approximately 25,5 percent compared to the closing price on the last trading day before the announcement on June 13, 2022.
The Australian IFM Global Infrastructure Fund initially acquired 2014 percent of the shares in Vienna Airport via its subsidiary IFM Airports Group Europe at the end of 29,9, increasing it to 2016 percent in April 38,16 and then going to just under 40 percent , from which a mandatory offer for all shares becomes necessary. However, according to the Takeover Commission, such a move is not necessary due to the existing shareholding structure and the governance situation of Flughafen Wien AG.
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