France: Strong interest in regional airports sale
The sale of 60% stakes in the French airports of Nice Cote d'Azur and Lyon-Saint-Exupery has attracted at least 11 firm offers while two potential candidates have dropped out of the race for Nice, according to a media report. Bidders had until midday on Monday to submit their offers, with a decision due in August. According to Reuters, offers ranged from E750m to E900m for Nice and from E500m to E800m for Lyon, or a valuation of 13 to 14 times annual EBITDA earnings. The sale of France's two biggest regional airports is expected to yield up to E1.6b for the government, which had already sold out of Toulouse-Blagnac airport in 2014. Five companies or consortia are reported to have bid for Nice airport.<br/>
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France: Strong interest in regional airports sale
The sale of 60% stakes in the French airports of Nice Cote d'Azur and Lyon-Saint-Exupery has attracted at least 11 firm offers while two potential candidates have dropped out of the race for Nice, according to a media report. Bidders had until midday on Monday to submit their offers, with a decision due in August. According to Reuters, offers ranged from E750m to E900m for Nice and from E500m to E800m for Lyon, or a valuation of 13 to 14 times annual EBITDA earnings. The sale of France's two biggest regional airports is expected to yield up to E1.6b for the government, which had already sold out of Toulouse-Blagnac airport in 2014. Five companies or consortia are reported to have bid for Nice airport.<br/>
