Malta International Airport plc – Announces changes in shareholding structure in Malta Mediterranean Link Consortium Limited
Malta International Airport plc has issued the following Company Announcement:
The Company has been informed that Flughafen Wien AG announced the signing of a share purchase agreement to acquire SNC-Lavalin Group Inc.’s indirect stake in SNC-Lavalin (Malta) Limited (“SNCL Malta”), subject to the fulfilment of certain closing conditions by both parties.
SNCL Malta has a 38.75% interest in Malta Mediterranean Link Consortium Limited (“MMLC”) and in which Flughafen Wien AG, through its subsidiary VIE (Malta) Limited already holds a 57.1%. MMLC has a 40% equity interest in Malta International Airport plc (the "Company").
VIE Malta Limited holds an additional 10.1% equity stake directly in the Company.
Upon reaching financial close, the total consolidated holding of Flughafen Wien AG in the Company, directly and indirectly, will be in excess of 48% of the total issued share capital.
A copy of the announcement made by Flughafen AG is attached for reference.
Ad-hoc information from Flughafen Wien AG on the increase of its holding in Malta Airport Flughafen
Wien AG hereby announces the signing of a share purchase agreement to acquire SNC-Lavalin Group Inc.’s indirect stake in SNC-Lavalin (Malta) Limited (“SNCL Malta”), subject to the fulfilling of certain closing conditions by both parties. SNCL Malta has a 38.75% interest in Malta Mediterranean Link Consortium Limited (“MMLC”) which in turn has a 40% interest in Malta International Airport plc ("Malta Airport"). Upon reaching financial close, the total consolidated holding of Flughafen Wien AG in Malta Airport will be more than 48%.
The total value of the transaction amounts to approximately € 63 million, equivalent to € 3.00 per Malta Airport share, subject to working capital adjustments.
Since the privatisation of Malta Airport in 2002 Flughafen Wien AG has held a 57.1% stake in MMLC via its subsidiary VIE (Malta) Limited. Flughafen Wien AG also provides operating management for Malta Airport and directly holds a further 10.1% of the shares in Malta Airport through VIE (Malta) Limited. Before the transaction Flughafen Wien AG's total direct and indirect holding in Malta Airport equalled in 32.94%.
By acquiring SNC-Lavalin Group Inc.’s indirect stake in MMLC, Flughafen Wien AG will increase its total indirect holding in Malta Airport by a further 15.5%. Thus, Flughafen Wien AG's total consolidated holding in Malta Airport will reach more than 48%.
The precise structure of Flughafen Wien AG holdings in Malta Airport will be disclosed upon closing.
To view the official Company Announcement, click here.