Hungary in talks to buy 51% stake in Budapest Airport

Hungary has submitted a formal offer to buy a majority stake in Budapest Airport, according to a person familiar with the matter, potentially ending years of wrangling over the hub’s fate. The two parties are expected to now enter into formal discussions, said the person, who asked not to be named. Hungary is offering to buy 51% via a state-controlled investment company, while the remaining 49% is set to be acquired by another airport operator, the person said, without identifying that suitor. The person said the offer was in the same ballpark — E4b — as an earlier bid put forward by a consortium led by the Hungarian government in 2021. That effort collapsed due to the challenging economic environment the government was in at the time. Hungary’s Economic Development Ministry, which is in charge of the acquisition talks on behalf of the government, said negotiations for the purchase of the airport are ongoing, and that they would inform the public once an agreement was reached. The ministry provided no further details in an emailed response to questions. The news of the talks came on the same day that Hungary was selling E1.75b in Eurobonds to finance what it said was an increased funding need for the year and plans to prefinance debt maturing in 2024. Economic Development Minister Marton Nagy has previously floated the option of using foreign-currency bonds to finance the purchase of the airport. The airport’s owners are still awaiting more details on the identity of all the proposed buyers as well as further information on how they would finance the deal, said the person, who spoke on condition of anonymity to discuss private matters.<br/>