IFM Global Infrastructure Fund increases offer for Vienna Airport

Airports Group Europe, an indirect subsidiary of IFM Global Infrastructure Fund, has sweetened its bid to obtain a majority stake in Vienna Airport. The group has raised its offer for up to 9.99% of shares in Flughafen Wien to E34 per share, including the dividend, from E33, it said on Monday. That would take its stake, which last stood just above 40%, to more than 50%. Flughafen Wien's management in August advised shareholders not to accept IFM's offer because it was too low in light of the expected further positive development of the company. IFM GIF, a long-time investor in Flughafen Wien, said the increase came in response to a better financial forecast from the operator of Vienna airport and was its "best and final price". Shareholders had the opportunity to accept the offer within an extended acceptance period of 10 trading days.<br/>