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HOCTIEF CONSORTIUM BAGS AUSTRALIAN AIRPORT
"Southern Cross" a consortium of HOCHTIEF AirPort GmbH, Essen, Macquarie Bank Limited and Commonwealth Bank of Australia Ltd. has acquired 100 per cent stake in Australia's Sydney Airport Corporation Limited (SACL). The purchase price is EUR 3.186 billion plus the EUR 113 million for the Ansett terminal. The sale was a part of privatization which began 2001. It was subsequently interrupted following the events of September 11 and the collapse of the Australian airline Ansett Australia.
The process was recommenced in the middle of April this year. "With the acquisition of this exceptionally important civil aviation facility, we have achieved another of our major strategic goals in the airport sector", says Dr. Hans-Peter Keitel, Chairman of the Executive Board of HOCHTIEF. The substantial and sustained interest of financial investors, he said, also indicates that setting up airport investment funds is a promising approach that could serve as a model for future acquisitions.
(26/6/02)
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