Airports Group Europe, an indirect subsidiary of iFM Global Infrastructure Fund (IFM GIF), has raised its offer for a majority stake in Flughafen Wien (Vienna International Airport) (Vie ) in Austria.

The group now proposes €34 per share with a dividend for up to 9.99% of shares in Flughafen Wien, up from the previous offer of €33.

It stated that this would be its ‘best and final price’, adding that the offer provides an ‘attractive premium’ for shareholders.

The acceptance period for the stakeholders has been extended by ten trading days.

In June, the group increased its stake in Vienna Airport to more than 40%, triggering a mandatory takeover provision.

The latest offer marks a 29.3% premium to the closing price of the last trading day before the announcement of the stake increase in June and was in response to revised guidance from the airport.

IFM noted: “Shareholders of Flughafen Wien AG that have accepted the offer during the regular acceptance period (i.e. until 6 October 2022) will be able to trade their tendered shares from the 6th trading day after the end of the acceptance period (i.e. from 14 October 2022) until the 3rd trading day before the settlement.”

Nomura is the financial adviser for the transaction while E+H Rechtsanwälte is serving as the Austrian legal adviser to Airports Group Europe.

In May, oil and gas producer OMV partnered with Associated Energy Group to deliver sustainable aviation fuel at Vienna Airport.