Vienna Airport, which owns the majority of shares in the Malta International Airport, is set to become an even bigger shareholder after making an offer to buy the stake held by a Canadian company.

Vienna Airport is already a principal shareholder in MIA. Apart from a direct 10 per cent stake, it is the majority shareholder in Malta Mediterranean Link Consortium, which holds 40 per cent of the Maltese airport’s shares.

This amounts to a total shareholding of 33 per cent.

It has now announced it wants to make an offer to buy SNC Lavalin Inc’s stake, in a bid to increase its shareholding by another 15.5 per cent. If this offer is accepted, Flughafen Wien AG’s total holding in MIA would reach 48 per cent.

In a statement issued yesterday, it said that the structure of the transaction has yet to be decided, however, the purchase price offered was €3 per share.

Upon successful completion of the transaction, its total value would amount to some €63 million. Final negotiations could be expected within the next six months, if the offer is accepted.

We are extremely satisfied with the performance of MIA

Julian Jaeger and Günther Ofner, executive directors, said MIA’s “outstanding results” and the very good prospects for its future development were behind the proposed share acquisition.

“We are extremely satisfied with the performance of MIA and we are convinced that this company will continue to show an above-average growth potential in the coming years.

“Our investment in Malta International Airport represents a strategic investment for us. “Our offer for the increase in our stake underlines this clear commitment. The intended transaction – should it be successful – also reflects our strategy to focus on our two existing investments, and not to acquire stakes in other airports elsewhere.”

This announcement comes after alarm bells were set off earlier this year when it was reported that the Austria-based company was considering selling its stake in Malta to compensate for financial challenges at Vienna airport.

However, Mr Jaeger, former MIA CEO, had told this newspaper that it had reversed its consideration to pull out and the company was committed to Malta.

Apart from Malta, Flughafen Wien AG also holds a majority shareholding in Kosice Airport, Slovakia.

Sign up to our free newsletters

Get the best updates straight to your inbox:
Please select at least one mailing list.

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.