IFM GIF has increased its stake in Flughafen Wien Aktiengesellschaft
Airports Group Europe S.à r.l. ("Airports Group Europe"), an indirect subsidiary of IFM Global Infrastructure Fund ("IFM GIF"), has acquired additional shares in Vienna Airport (Flughafen Wien Aktiengesellschaft) through on-market share purchases.
Airports Group Europe now holds above 40.0% of the entire share capital in Flughafen Wien Aktiengesellschaft (ISIN AT00000VIE62) and as a result is obliged to launch a mandatory takeover offer in relation to all remaining shares in Flughafen Wien Aktiengesellschaft pursuant to the Austrian Takeover Act.
The offer price of EUR 33.00 per share corresponds to a premium of 25.5% compared to the closing price of the last trading day prior to this announcement (10 June 2022) and a premium of 21.3% compared to the volume weighted average price (VWAP) of the last six months prior to the announcement.
IFM GIF is advised by IFM Investors, a global funds manager owned by a group of Australian pension funds. IFM Investors invests on behalf of more than 600 institutional investors, incorporating the retirement savings of 120 million working people globally.
Focused on the long-term, the returns made by IFM Investors flow into the retirement savings of millions of pension fund members, such as nurses, teachers, retail workers and hospitality staff.
Quotes attributable to IFM Investors Executive Director Infrastructure, Werner Kerschl:
“Despite the difficult economic situation for the aviation industry, we believe in the strong fundamentals of Flughafen Wien and in Austria as a place to invest.”
“During our more than seven years as an existing shareholder, we have recognized Flughafen Wien as a well-managed and well-run company. We have therefore decided to acquire additional shares and can offer an attractive price to all selling shareholders.”
“The takeover offer is required under the Austrian legal framework, but we are not seeking majority control of the company. Based on our understanding of the respective long-term investment horizons, we do not expect the City of Vienna, Lower Austria or the Employee Trust to sell their share.”
“We remain committed to working with all stakeholders and to support Management in continuing its strategy for Flughafen Wien in the interests of local communities, passengers, airline customers, employees and the broader economy.”
The Offer will be subject to applicable regulatory approvals.
Nomura is acting as financial advisor while E+H Rechtsanwälte GmbH is acting as Austrian legal advisor to Airports Group Europe.
For further information see www.flughafen-wien-aktien-angebot.at
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About Airports Group Europe
Airports Group Europe is a limited company registered in Luxembourg under B 167449.
About IFM GIF
IFM Global Infrastructure Fund (“IFM GIF”) is an independently managed open-ended global infrastructure investment fund.
IFM GIF’s investors include a diverse range of pension funds and institutional investors across the UK and Europe, Australia, the US, Canada and Asia. GIF has a 17-year track record investing in assets around the world with 20 current portfolio investments spanning airports, seaports and toll roads, as well as energy, water and telecommunication assets.
IFM GIF’s airport experience includes investments in Flughafen Wien Group (Vienna, Malta and Košice airports), Manchester Airports Group (Manchester, London Stansted and East Midlands airports) and Sydney Airport.
IFM GIF is advised by IFM Investors Pty Limited ("IFM Investors").
About IFM Investors
IFM Investors was established more than 25 years ago with the aim to protect and grow the long-term retirement savings of working people. Owned by a group of Australian pension funds, the organisation has €122 billion under management as at 31 March 2022.
IFM Investors is one of the largest global infrastructure investment managers with more than €58 billion (as at 31 March 2022) invested across a range of infrastructure assets. IFM Investors has significant experience in working alongside municipalities and public entities, and has been involved, as manager or advisor, in investments across 17 different airports in Australia, the United Kingdom, Austria, Malta, Slovakia and Latin America.
As a signatory to The United Nations-supported Principles for Responsible Investment, funds managed or advised by IFM Investors actively engage on ESG issues with the companies in which they invest with the aim of enhancing their net performance while minimising investment risk.
Operating globally from offices in Melbourne, Sydney, London, Berlin, Zurich, Amsterdam, New York, Hong Kong, Seoul and Tokyo, IFM Investors manages investments across infrastructure, debt, listed equities and private equity assets. For more information, visit www.ifminvestors.com.