DENMARK. Macquarie Airports Copenhagen ApS (MAp Copenhagen) has announced that its tender offer to the shareholders of Københavns Lufthavne A/S (Copenhagen Airports/CPH) is now unconditional and will be completed.
MAp’s tender offer, which was made on 24 October 2005, was unanimously recommended by the board of Copenhagen Airports. The European Commission approved the offer on 5 December.
The tender offer expired on 9 December, at which time MAp Copenhagen owned or had received valid acceptances for 2,992,341 shares at DKK100 each. With the initial MAp Copenhagen shareholding of 1,119,676 shares (representing a 14.7% stake), this corresponds to 52.4% of the issued shares and voting rights of CPH.
MAp Copenhagen is set to complete the tender offer on 19 December, when CPH shareholders will receive payment for their shares.
CPH owns Copenhagen and Roskilde Airports in Denmark as well as stakes in several international airports in the UK (Newcastle), China (Hainan Meilan) and Mexico (ASUR’s nine airports). The Danish government owns around 39% of CPH but has in the past indicated that it is unwilling to sell that holding.
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