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Ministry to recommend TwoOne as airports' purchaser

BASED on the additional bids from the TwoOne and Abertis consortiums, the Slovak Transport Ministry decided to recommend to the government TwoOne as the future owner of 66 percent of Bratislava and Košice airports.

On January 27, Transport Minister Pavol Prokopovič opened the envelopes containing the additional bids from TwoOne and its rival in front of journalists, the daily SME reported.

TwoOne’s additional offer was Sk4.52 billion (€120 million) for the two airports, while Abertis’ was Sk3.307 billion (€90 million). It means TwoOne’s bid was around Sk1.2 billion (€30 million) higher than Abertis’, which includes Slovak financial group J&T. The TwoOne consortium includes Vienna Airport, Austrian Raiffeisen Zentralbank and Czech-Slovak financial group Penta.

If the cabinet approves the sale of a 66-percent share of Bratislava and Košice airports to the consortium, TwoOne will pay Sk19.6 billion (€520 million) for the airports. Of this sum Sk11.4 billion (€300 million) will flow directly into the state budget and the consortium must subscribe Sk8.2 billion (€220 million) to the airports' share capital. The winner also guarantees further investments in the airports of more than Sk10 billion (€260 million).

According to J&T, it is apparent TwoOne’s high offer is beyond any economic assessment of Bratislava and Košice airports. J&T’s Maroš Sýkora thinks the bid proves that Vienna Airport does not care about the Slovak airports' economic development, but wants to eliminate competition in the area.

Compiled by Marta Ďurianová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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