BELGIUM. The European Commission has cleared the acquisition by Macquarie Group’s airports company MABSA of a stake in the Brussels International Airport Company.
The acquisition was cleared under the EU’s simplified merger procedure.
Last month Macquarie Airports (MAp) confirmed that a consortium led by MAp, and including other unlisted Macquarie Group-managed infrastructure funds and Macquarie Bank Limited (MAp Consortium), had been selected as the successful bidder for the acquisition of a 70% interest the Belgian company.
Under the terms of the transaction, the Belgian state retains a 30% stake in the airport.
The 70% equity interest has been acquired for €735 million, giving a total (100%) Enterprise Value (equity plus forecast net debt as at 31 December 2004) at acquisition of €1,635 million.
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