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Flughafen Wien AG reaffirms its recommendation to shareholders to reject the purchase offer of IFM
Strict constraints permanently prevent IFM from gaining a controlling influence
The Management Board of Flughafen Wien AG, the operating company of Vienna Airport, reaffirms the statement jointly published by the Management Board and Supervisory Board on 17 August 2022 with respect to the offer made by IFM, advising shareholder not to accept it. In the light of the good business development perspectives of the company, the proposed purchase price is deemed as being too low. This is impressively underlined by the recently published earnings forecast for 2023, predicting a consolidated net profit for the year of over
€ 150 million. Furthermore, Vienna Airport is debt-free for the first time in decades. Finally, the potential threat of a delisting of the Flughafen Wien AG share is not considered to be in the best interests of the company.
The strict constraints laid down by the Federal Ministry for Labour and Economy, for example the limitation that only two of ten shareholder representatives on the Supervisory Board can be nominated, permanently prevent IFM from gaining a controlling interest in the company. This is complemented by the prohibition imposed upon IFM to propose resolutions at the Annual General Meeting designed to change the Articles of Association of Vienna Airport.
Airports Group Europe S.à r.l., an indirect subsidiary of IFM Global Infrastructure Fund, currently holds a stake of 40% plus nine shares of Flughafen Wien AG. On 11 August 2022, it published a partial offer pursuant to Section 4 et seq. of the Austrian Takeover Act to acquire an additional stake of up to 9.99% of all shares (totalling up to 50% less one share) in Flughafen Wien AG (ISIN AT00000VIE62).
The detailed opinion published by the Management Board and Supervisory Board of Vienna Airport including the arguments in favour of and against the offer made by IFM as stipulated by the law can be viewed on the website of Flughafen Wien AG at https://www.viennaairport.com/partial_takeover_offer_ifm_2022.
Contact:
Press Office of Flughafen Wien AG
Peter Kleemann, Company Spokesman
Tel.: (+43-1-) 7007-23000
E-mail: p.kleemann@viennaairport.com
Website: www.viennaairport.com
Facebook: www.facebook.com/flughafenwien
Twitter: twitter.com/flughafen_wien
Strict constraints permanently prevent IFM from gaining a controlling influence
The Management Board of Flughafen Wien AG, the operating company of Vienna Airport, reaffirms the statement jointly published by the Management Board and Supervisory Board on 17 August 2022 with respect to the offer made by IFM, advising shareholder not to accept it. In the light of the good business development perspectives of the company, the proposed purchase price is deemed as being too low. This is impressively underlined by the recently published earnings forecast for 2023, predicting a consolidated net profit for the year of over
€ 150 million. Furthermore, Vienna Airport is debt-free for the first time in decades. Finally, the potential threat of a delisting of the Flughafen Wien AG share is not considered to be in the best interests of the company.
The strict constraints laid down by the Federal Ministry for Labour and Economy, for example the limitation that only two of ten shareholder representatives on the Supervisory Board can be nominated, permanently prevent IFM from gaining a controlling interest in the company. This is complemented by the prohibition imposed upon IFM to propose resolutions at the Annual General Meeting designed to change the Articles of Association of Vienna Airport.
Airports Group Europe S.à r.l., an indirect subsidiary of IFM Global Infrastructure Fund, currently holds a stake of 40% plus nine shares of Flughafen Wien AG. On 11 August 2022, it published a partial offer pursuant to Section 4 et seq. of the Austrian Takeover Act to acquire an additional stake of up to 9.99% of all shares (totalling up to 50% less one share) in Flughafen Wien AG (ISIN AT00000VIE62).
The detailed opinion published by the Management Board and Supervisory Board of Vienna Airport including the arguments in favour of and against the offer made by IFM as stipulated by the law can be viewed on the website of Flughafen Wien AG at https://www.viennaairport.com/partial_takeover_offer_ifm_2022.
Contact:
Press Office of Flughafen Wien AG
Peter Kleemann, Company Spokesman
Tel.: (+43-1-) 7007-23000
E-mail: p.kleemann@viennaairport.com
Website: www.viennaairport.com
Facebook: www.facebook.com/flughafenwien
Twitter: twitter.com/flughafen_wien
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