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Latham Advises Funders on €4.3 Billion Sale of Budapest Airport to the Hungarian State and Vinci

June 10, 2024
London infrastructure team represents the funders in the transaction.

Latham & Watkins has advised the funders to Budapest Airport Zrt. on the amendment and restatement of its financing platform and concession arrangements in connection with its sale. The airport was sold by AviAlliance (a wholly owned subsidiary of PSP Investments), GIC, and CDPQ to the Hungarian state-owned investment fund Corvinus Zrt., along with French co-investor Vinci Airports. Following the completion of the sale on June 6, 2024, Budapest Airport is 80% owned by Corvinus and 20% by Vinci Airports, with Vinci Airports acting as operator of the airport. The transaction is valued at €3.1 billion (equity value), with an additional net debt of €1.2 billion as of December 2023, amounting to €4.3 billion.

The Latham team was led by London infrastructure partners Seonaid Todisco and Conrad Andersen, with associates Chuan Foo and Matthew Milne.

Endnotes

    Contacts

    Todisco, Seonaid

    Seonaid Todisco

    London
    seonaid.todisco@lw.com +44.20.7710.4693
    Andersen, Conrad

    Conrad Andersen

    London
    conrad.andersen@lw.com +44.20.7710.4532