Staff
The Public Sector Pension Investment Board (PSP Investments) has agreed to buy the airports division from German construction firm Hochtief for €1.1 billion.
The unit has stakes in airports in Athens, Budapest, Dusseldorf, Hamburg, Sydney and Tirana. Combined, these airports handle approximately 95 million passengers annually.
“Hochtief AirPort is passing into the hands of a long-term and trustworthy investor that will continue to support the airports business in a responsible manner,” says Marcelino Fernandez Verdes, Hochtief’s CEO.
The transaction, which is subject to regulatory approval, is expected to close in the second half of 2013.
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