EC Clears Acquisition of Budapest Airport by State-Owned Company with French Partner
- 14 Dec 2023 7:22 AM
- Hungary Matters
The European Commission on Wednesday announced it authorised the acquisition of Budapest Airport, the operator of Liszt Ferenc International, by state-owned Corvinus International Investment and France’s VINCI Airports.
The EC concluded that the transaction would not raise competition concerns as the parties are not present on the same or vertically linked markets.
New details were revealed by Márton Nagy regarding the re-nationalization of Ferihegy Airport, Világgazdaság reports
Following the state repurchase of Budapest's Liszt Ferenc International Airport, the operation and related services in the future will be managed through economically controlled companies under majority state influence.
The Parliament today approved the law on the modification of certain economic and asset management laws, which includes amendments to the aviation law, as stated in the Ministry of Economic Development's press release.
Negotiations regarding the repurchase are progressing systematically, in a spirit of cooperation, and are proceeding adequately between the involved parties.
The government intends that after the state repurchase of Budapest's Liszt Ferenc International Airport, the operation and related services will be ensured through economically controlled companies under majority state influence in the future, as mentioned in the statement.
The government's aim is for these companies to operate on market principles, applying legal requirements similar to those for private market players and complying with established international industry standards.
The amendments accepted today also serve this goal, ensuring that the companies soon to be under majority state ownership operate efficiently and competitively on market principles.
This aims to contribute to the country having a modern, 21st-century airport offering high-quality services in line with contemporary expectations, thereby supporting the growth of both the tourism and logistics sectors, as stated in the press release.
Original source - in Hungarian - vg.hu
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