No Buyers Interested in Shares of Zagreb Airport Concessionaire

The Viadukt construction company announced the sale of its stake in the concessionaire of Zagreb Airport at a starting price of seven million euro. However, according to the company’s bankruptcy manager Milorad Zajkovski, there were no interested buyers. Therefore, the company will soon announce a new call, with the same initial price, reports Večernji List on January 12, 2019.

Viadukt owns a share of 5.11 percent in the ZAIC-A Limited company, which is registered in the United Kingdom and which won the Zagreb Airport concession tender. The rest of the shares are owned by French companies Aeroports de Paris Management (ADPM) and Bouygues Batiment International (BBI), each with a stake of 20.77 percent. The same proportion of shares is owned by the Marguerite fund, while IFC, the World Bank fund, holds 17.58 percent of ZAIC. Turkish TAV Airports has a share of 15 percent.

In order to construct the new passenger terminal of Zagreb Airport and manage it, ZAIC-A established the Međunarodna Zračna Luka Zagreb (MZLZ) company, to which the rights and obligations from the concession contract have been transferred. On December 5, 2013, MZLZ took over the management of the Zagreb Airport for the next 30 years.

Zajkovski admitted that he was surprised that he did not receive a single bid for Viadukt’s stake in ZAIC-A, adding that he expected other co-owners of the company to come forward and that everything would be finished quickly. However, he said that the price would remain the same in the second call.

Potential buyers must submit their annual financial reports for 2017, which will provide the basis for evaluation of whether they meet the required condition, which is that the potential buyers must have a net asset value of at least 50 million euro.

Source: Total Croatia News

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