Hochtief in final stages to sell airport assets

29 September 2011 (Last Updated September 29th, 2011 18:30)

German company Hochtief, which is majority-owned by Spanish company ACS, is in the final stages of negotiation to divest its airport assets over the coming weeks.

German company Hochtief, which is majority-owned by Spanish company ACS, is in the final stages of negotiation to divest its airport assets over the coming weeks.

French construction company Vinci and HNA, parent of Hainan Airlines, are the two remaining bidders for the portfolio, with each offering $2.1bn.

A consortium of Germany's Fraport FRAG.DE and Deutsche Bank's DBKGn.DE fund management arm RREEF had previously dropped out of the bidding race.