E+H advises Airports Group Europe S.à r.l. (“Airports Group Europe“), an indirect subsidiary of IFM Global Infrastructure Fund (“IFM GIF“), on increasing its stake in Flughafen Wien Aktiengesellschaft to over 40%. Airports Group Europe is launching a partial voluntary public offer pursuant to the Austrian Takeover Act that is aimed at the remaining free float shareholders (approximately 10% of all shares) in Flughafen Wien Aktiengesellschaft.
IFM GIF is advised by IFM Investors PTY Ltd (“IFM Investors“), a global funds manager owned by a group of Australian pension funds. IFM Investors invests on behalf of more than 600 institutional investors, incorporating the retirement savings of 120 million working people globally.
Werner Kerschl, Executive Director of IFM Investors: “We welcome the decision by the Takeover Commission not to prohibit the publication of our public offer to increase our stake in Flughafen Wien. We believe the offer price represents an attractive premium for shareholders, considering the continued high levels of uncertainty for the aviation industry. We also believe that the offer is a liquidity event for shareholders to tender their shares in an otherwise relatively illiquid stock at an attractive price.”
“As an existing shareholder in Flughafen Wien for more than seven years, and a long-term investor on behalf of pension funds and institutional investors, we continue to recognize Austria as an attractive place to invest. We remain committed to working with all stakeholders of Flughafen Wien and supporting Management in the interests of local communities, passengers, airline customers, employees and the broader economy.”, Werner Kerschl further explains.
The offer is subject to applicable regulatory approvals.
E+H advises IFM GIF on aspects of Austrian law under the lead of Philipp Nidal Karaman.
Philipp Nidal Karaman (lead partner, Corporate + M&A / Capital Market), Judith Feldner (partner, FDI); Ulrike Sehrschön (partner, Regulatory), Dr. Felix Frommelt (attorney-at-law, FDI), Laura Glibusic (associate, Corporate + M&A), Alexander Reiter (associate, FDI), Vincenz Stockert (associate, Corporate + M&A)