Vienna International to raise MIA stake to more than 48%

Vienna International Airport (VIA) has tabled an offer to raise its stake in the Malta International Airport to more than 48% for around €63 million.

VIA on Monday announced it had made an offer – conditional to the approval of its supervisory board - to acquire SNC Lavalin Inc's stake in MIA.

Since the privatisation of Malta Airport in 2002, 40% of it has been held by the consortium company Malta Mediterranean Link Consortium Limited, in which VIA has a 57.1% holding via its subsidiary VIE (Malta) Limited. VIA also provides operating management for MIA and directly holds a further 10.1% of the shares in Malta Airport through VIE (Malta) Limited.

At present, VIA's total holding in Malta Airport equals 32.94%.

The Canadian company SNC Lavalin Inc. also has a holding in Malta Mediterranean Link Consortium Limited.

VIA said that its objective in making the offer to acquire SNC Lavalin Inc's stake in the joint consortium company was to increase its total holding in Malta Airport by a further 15.5%.

If the offer is accepted, VIA’s total holding in Malta Airport would reach more than 48%. However, the precise structure of the transaction has yet to be decided. The purchase price offered is €3.00 per share.

“Upon successful completion of the transaction its total value would amount to approximately EUR 63 million. In case of a positive conclusion of the final negotiations, the closing can be expected within the next six months,” VIA said.