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Lkpr / PRG To Be Privatized  
User currently offlineAndrej From United Kingdom, joined Jun 2001, 946 posts, RR: 0
Posted (6 years 3 months 2 weeks 6 days 8 hours ago) and read 1496 times:

Hey all,

Bloomberg is reporting that Czech government has decided to sell 100% of PRG. An advisory firm will decide how the government will dispose of its 100% shares. Potential value is about $7.4 Billion.

Source: http://bloomberg.com/apps/news?pid=2...sid=arhcVNuEqgqc&refer=east_europe

So whom do you expect to be interested into PRG? Fraport, Flughafen Wien AG, or Grupo Ferrovial, S.A.? Maybe some private equity firm from Central Europe such as Penta Investments, J&T?

It may be harder for leveraged buyout so I am not to sure if we can see Ferroival along with other private equity firms to be interested. But lets wait and see!

Cheers,
Andrej

11 replies: All unread, jump to last
 
User currently offlineGatoVolador From Spain, joined Apr 2007, 435 posts, RR: 1
Reply 1, posted (6 years 3 months 2 weeks 6 days 8 hours ago) and read 1461 times:

I'm pretty sure that at least one company from Spain will try it. Ferrovial (through BAA) is a possibility. But also others. Abertis, for instance. Or ACS. Or FCC...

User currently offlineCornish From United Kingdom, joined Feb 2005, 8187 posts, RR: 54
Reply 2, posted (6 years 3 months 2 weeks 6 days 7 hours ago) and read 1421 times:



Quoting Andrej (Thread starter):
So whom do you expect to be interested into PRG? Fraport, Flughafen Wien AG, or Grupo Ferrovial, S.A.? Maybe some private equity firm from Central Europe such as Penta Investments, J&T?

Akll the big players are interested - both airport groups and banks. Many of them have already expressed their interest. I know of a number who have done so, but which I cannot name on here  Wink

Ferrovial is a much less likely contender given their financial problems at present regarding BAA. They need to sort that out first before they can consider other purchases.



Just when I thought I could see light at the end of the tunnel, it was some B*****d with a torch bringing me more work
User currently offlineJFK787NYC From United States of America, joined Apr 2007, 812 posts, RR: 2
Reply 3, posted (6 years 3 months 2 weeks 6 days 7 hours ago) and read 1411 times:

Could an Airline bid for the stake?

Maybe Aeroflot, Would it be worth it for them instead of purchasing an actual airline in Europe they can just purchase an airport.


User currently offlineCornish From United Kingdom, joined Feb 2005, 8187 posts, RR: 54
Reply 4, posted (6 years 3 months 2 weeks 6 days 7 hours ago) and read 1406 times:



Quoting JFK787NYC (Reply 3):
Could an Airline bid for the stake?

Maybe Aeroflot, Would it be worth it for them instead of purchasing an actual airline in Europe they can just purchase an airport.

Almost certainly not. It will likely be a consortium of a bank/s and an airport group. I would be very surprised to see any airline involved in a bid.



Just when I thought I could see light at the end of the tunnel, it was some B*****d with a torch bringing me more work
User currently offlineJFK787NYC From United States of America, joined Apr 2007, 812 posts, RR: 2
Reply 5, posted (6 years 3 months 2 weeks 6 days 6 hours ago) and read 1400 times:

Ok, But for example 30% of Aeroflot is owned by Mr. Alexander Lebedev.... He is also the owner of the National Reserve Bank of the Russian Federation.

What if the National Reserve Bank purchases this stake in PRG? Could that be a possibility?


User currently offlineCornish From United Kingdom, joined Feb 2005, 8187 posts, RR: 54
Reply 6, posted (6 years 3 months 2 weeks 6 days 6 hours ago) and read 1396 times:

Quoting JFK787NYC (Reply 5):
Ok, But for example 30% of Aeroflot is owned by Mr. Alexander Lebedev.... He is also the owner of the National Reserve Bank of the Russian Federation.

What if the National Reserve Bank purchases this stake in PRG? Could that be a possibility?

Ah but that is different to Aeroflot buying PRG. But on this occasion it doesn't look like it will be the Russians leading the bids (apart from possible political reluctance from the Czechs to sell to the Russians when there are no end of experienced Western suitors available).

At the moment it looks like all the usual contenders will be bidding - the Fraports, Viennas, ADPs of this world - not to mention Indian interest too from a couple of parties. TAV could be in there, Hochtief......

[Edited 2008-06-02 09:05:31]


Just when I thought I could see light at the end of the tunnel, it was some B*****d with a torch bringing me more work
User currently offlineTANS From Czech Republic, joined May 2005, 134 posts, RR: 0
Reply 7, posted (6 years 3 months 2 weeks 6 days 6 hours ago) and read 1384 times:

I think that Ferrovial/BAA are the way to go! That way I won't feel any difference when flying from LHR/LGW to Prague.  Smile

I wonder if Penta Investments would be allowed to take PRG over, considering that they now own Aero Vodochody and their airport north of the capital, which they hope to turn into a second commercial airport for Prague (for charters/PJs/LCCs).


User currently offlineCornish From United Kingdom, joined Feb 2005, 8187 posts, RR: 54
Reply 8, posted (6 years 3 months 2 weeks 6 days 6 hours ago) and read 1379 times:



Quoting TANS (Reply 7):
I think that Ferrovial/BAA are the way to go! That way I won't feel any difference when flying from LHR/LGW to Prague.

Lets hope not for Prague Airport's sake.

Ferrovial are struggling badly after the BAA takeover. They need money and that's why one, of not two of the BAA airports will be sold - regardless of whether the regulators force them to anyway.



Just when I thought I could see light at the end of the tunnel, it was some B*****d with a torch bringing me more work
User currently offlineGatoVolador From Spain, joined Apr 2007, 435 posts, RR: 1
Reply 9, posted (6 years 3 months 2 weeks 6 days 4 hours ago) and read 1355 times:

For your information:

Ferrovial is not in troubles. Today, it reached an agreement with 3 Spanish banks (Santander, BBVA, and Caja Madrid) and 6 foreign banks to refinance the debt. The company got a 9.500M euros loan so that with it, they don't need the emission of bonds. The refinancing program is finished and the problem is closed.

http://uk.biz.yahoo.com/02062008/323...refinancing-talks-bondholders.html

[Edited 2008-06-02 11:03:14]

User currently offlineHumberside From United Kingdom, joined Dec 2005, 4920 posts, RR: 4
Reply 10, posted (6 years 3 months 2 weeks 6 days 1 hour ago) and read 1337 times:



Quoting Cornish (Reply 8):
Ferrovial are struggling badly after the BAA takeover. They need money and that's why one, of not two of the BAA airports will be sold - regardless of whether the regulators force them to anyway.

And of course BHD is up for sale too

I havent seen Maquarie mentioned in this thread. Guess they will be interested too?



Visit the Air Humberside Website and Forum
User currently offlineCornish From United Kingdom, joined Feb 2005, 8187 posts, RR: 54
Reply 11, posted (6 years 3 months 2 weeks 5 days 14 hours ago) and read 1288 times:



Quoting GatoVolador (Reply 9):
Ferrovial is not in troubles. Today, it reached an agreement with 3 Spanish banks (Santander, BBVA, and Caja Madrid) and 6 foreign banks to refinance the debt. The company got a 9.500M euros loan so that with it, they don't need the emission of bonds. The refinancing program is finished and the problem is closed.

Erm I think you need to re-read the article. While it is a major step forward, the refinancing program is not finished and the problem is not closed until they get full agreement from the bondholders to agree to it. You are right to be posiitive, but it is not a closed issue just yet.

Either way, I don't think Ferrovial will be one of the bidders for Prague Airport.



Just when I thought I could see light at the end of the tunnel, it was some B*****d with a torch bringing me more work
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