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| Vinci vies for a 75.5% stake in Ljubljana Airport as others back out |
The French concession and construction company Vinci has offered 96.7 million euros for a 75.5% stake in Ljubljana Jože Pučnik Airport, amid reports several companies have pulled out of the bidding process after the Slovenian government temporarily halted all privatisations in the country. Vinci is the only company so far to publicly reveal its offer for Ljubljana Airport. The French-based concession group is willing to invest fifty euros per share or a total of 96.7 million euros. Ljubljana Airport shares are currently trading at 44 euros apiece on the Ljubljana Stock Exchange. A deadline for the submission of binding bids expired over the weekend. However, the privatisation process will be temporarily halted until a new government is formed in the country following a snap election this Sunday.
Recently, Vinci Chairman, Nicolas Notebaert, said he was confident his company can contribute to the development of Ljubljana Airport. He explained the airport would retain its name and location if Vinci was successful in its quest to purchase a majority stake. Mr. Notebaert added the company’s main acquisition model is through Public Private Partnerships (PPP) and the goal is to establish a decentralised system in which Ljubljana Airport is at the centre and not a branch of Vinci-owned airports in Paris or Lisbon. He explained one of the company’s key objectives would be to grow traffic at Slovenia’s busiest airport, and growth in traffic and investments “go hand-in-hand”.
According to the Slovenian “Finance” portal, a total of three companies have pulled out of the bidding process after Prime Minister Alenka Bratušek announced she was suspending all privatisations until a new government is formed as certain sales could be reconsidered. Potential investors were further spooked over the weekend when political newcomer Miro Cerar, whose SMC party has topped opinion polls for the upcoming election, said he opposed the sale of Ljubljana Airport and would reconsider some privatisations initiated by the outgoing government. However, Mr. Cerar admitted he was “not sure” if the process could be stopped at this point.
The EC ruling in Adria's state aid case is going to be made public in a couple of days - it will be interesting to see, what will happen to the privatization of LJLJ if Adria goes bankrupt.
ReplyDeleteI wonder what the implication would be of having 2 French owned airports in such close proximity (Zagreb/Ljubljana)
ReplyDelete4 biding offers for Ljubljana Airport
ReplyDelete*Friedmann Pacific from Hong Kong owner of China Aircraft Leasing Company
*VINCI Airport Group from France (All airports in Portugal and Cabodia and many in France all together 23 airports with 43 mios PAX)
SAWE from Italy (Venice, Verona, Treviso Airports)
and Fraport (Frankfurt Airport+ 11 worldwide)
To be honest, I don't believe that Slovenians intend to privatize anything. It is well known that they favourize the french model of "state capitalism", so if all privatizations now halted this will process will not be refreshed. The new government will just put their cronies into the boards and that's it!
ReplyDeleteSlovenia has to privatize majority of the state owned companies due to the agreements with the EC.
ReplyDeleteThe only question is, what will EC do with Adria - due to impending political crises in Slovenia EC could decide (well, the decision has probably already been made) to close Adria, as Adria is the least likely to be bought. With Adria gone, the new owner of LJLJ would be in quite a difficult position as they would lose a lot of revenue.
from austrianaviation today :
ReplyDeleteAdria Airways is expecting net profit of 2,7 mil Euro for this year ( last year they had losses of 3.1 mil €). pax numbers for the first quarter of this year :188.494 (plus of 10% )
sorry, it means plus 188.494 passengers (a total increase of 10%)
DeleteTo be fair, since EU hasn't lent us any money they can't force us to sell anything. And by the opinion polls, the winning party intends to sell only non-strategic companies which the airport is not. Maybe only the passenger and freight part (the terminal) will be sold, but not the runway etc.
ReplyDeletetoday another 747 in Zagreb.
ReplyDeletewhich airline?
Deletewhere from/to ?
passenger or cargo?
cargo
DeleteLike in BEG this Sunday...
DeleteVolga-Dniepar Air Bridge Cargo
DeleteCargo
ReplyDeleteSlovenia has become such mess. Seems like they can't decide on anything lately. The country has been deeply polarized between Jansa, the leader of the right wing party, who is currently imprisoned and the left wing led by "reformed" communists. I guess the EU financial crisis left deeps scars not just on the Slovenian economy, but on its political stability too. With too many failed governments, state capitalism model, too much bureaucracy and corruption on such a small market, the country has become unattractive to foreign investors who instead rather look into pouring their money into Croatia, Serbia and even Bosnia where at least the labour is much cheaper. Too pity, as Slovenia used to be an example for the rest of us in the Balkans, but now, they are just one of us.
ReplyDeleteEven Bosnia Sam? Bosnia is in much much much better shape than Serbi.
DeleteSlovenia is in deep crisis, but still far away from other Balkan countries, regarding their standard and way of living!
DeleteMajority of people in Belgrade, almost 2 million, almost like Slovenia, have both standard and way of living more similar to Slovenia then the "rest of the Balkans". Almost enitire Croatia, EU member and centraleuropean and mediterrannean country in its vast majority have both standard and way of living similar to Slovenia and much different than the "rest of the Balkans". Your comment only shows how limited and narrowminded you are; typical example of "malomescan" Slovenian, who made possible "izbrisane" and everything similar, that you sou proudly talk about.
DeleteAverage salary in Belgrade? Average salary in Croatia? Compare it to the one in Slovenia! Btw., I'm a Croat from Dubrovnik, not a Slovenian!
DeleteHmm yes, by comparison a very different conclusion can be drawn. However, if we then take these salaries and compare them to the living standard and costs in both countries we will see that things are not THAT different.
DeleteNot sure if salary comparison would do. One should look at disposable income after taking into account price level/purchasing power of EUR in Slovenia, Croatia and Belgrade.
DeleteToday Vuleing to ZAG with 757 from Titan Airways.
ReplyDelete