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Investing

Denmark plans to buy majority stake in Copenhagen Airports
Busy airport terminal with crowds and luggage trolleys.

Published : 6 days ago, on

COPENHAGEN (Reuters) -Denmark’s finance ministry has reached a conditional agreement with Danish pension fund ATP to buy a further 59.4% of the shares in Copenhagen Airports for around 32 billion Danish crowns ($4.52 billion), boosting the group’s shares.

If the deal goes through, the Danish state will own 98.6% of the company, which owns and operates Denmark’s biggest airport among other things, although it could eventually reduce this to 50.1% over time, the ministry said in a statement.

Shares in the listed company rose 13.1% by 1129 GMT.

“This will ensure that the airport will continue to have a responsible and long-term group of owners in the future,” Finance Minister Nicolai Wammen said.

“We will secure a good framework for the airport as a central Danish infrastructure and one of Denmark’s largest workplaces,” he added.

The purchase agreement had been made on market terms, and the implementation was conditional on obtaining relevant regulatory approvals among other things, the ministry said.

($1 = 7.0866 Danish crowns)

(Reporting by Stine Jacobsen, editing by Terje Solsvik)

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