Airports Group Europe S.à r.l. ("Airports Group Europe"), an indirect subsidiary of IFM Global Infrastructure Fund ("IFM"), published a voluntary public offer pursuant to §§ 4 et seq of the Austrian Takeover Act (Übernahmegesetz) for the purchase of up to 6,279,000 (six million two hundred seventy nine thousand) ordinary bearer shares in Vienna Airport, (ISIN AT0000911805) on 7 November 2014 (the "Offer"). The improvement of the Offer was published on 5 December 2014. The acceptance period of the Offer ended on 18 December 2014, 15:00 (Vienna time). All conditions precedent are already fulfilled. Pursuant to § 19 (3) ÜbG, the Offer is not extended by the three month sell-out period.
Until the expiry of the acceptance period, in total 7,635,797 shares have been tendered into the Offer; the Offer is therefore oversubscribed in accordance with clause 6.12 of the Offer. Pursuant to § 20 ÜbG, all duly submitted declarations of acceptance can therefore only be considered by approximately 82.2%. The bidder will therefore in total acquire 6,279,000 shares in Vienna Airport; this corresponds to 29.9% of the share capital.
"We are very pleased with the outcome. We received considerable interest from investors, and feel reassured that we made a fair and attractive offer", states Werner Kerschl, Investment Director of IFM Investors. "We believe that Austria and Vienna Airport in particular, represent an especially attractive investment opportunity, and we have considerable confidence in the existing management team. Our investment reflects a long-term, responsible commitment to Vienna Airport. With over 19 years of experience in the infrastructure sector, IFM can offer its expertise and support to Vienna Airport and its stakeholders for the long-term development."
The improved offer price of EUR 82 per share will be paid by the receiving and payment agent to the shareholders who have duly accepted the Offer no later than Tuesday, 23 December 2014 simultaneously against transfer of the shares.
Nomura International Plc is acting as financial advisor, while Eisenberger & Herzog Rechtsanwalts GmbH is acting as Austrian legal advisor.