German Firm Hochtief Revives Sale of Airport Unit: Sources -Bloomberg News

German construction company Hochtief AG (HOT.XE) is reviving the sale of its airport operations and has invited potential buyers to submit indicative offers by the end of March, Bloomberg News reported Thursday on its website, citing three unnamed sources.

Hochtief is working with Deutsche Bank AG (DB) on the sale, the report cited the sources as saying.

The company had shelved the sale of its airport operations last year, as bidders including Vinci SA (DG.FR) and China's HNA Group had offered more than 1 billion euros ($1.32 billion) for the unit, while Hochtief valued it at as much as EUR1.6 billion, the report said.

Companies that will likely be invited to submit indicative offers include Fraport AG (FRA.XE), Deutsche Bank's real estate investment unit RREEF, Global Infrastructure Partners LLP and the investment arm of Allianz SE (ALV.XE), which teamed up previously, as well as the operators of the Shanghai and Singapore Changi airports, the report quoted one of the sources as saying.

A Hochtief spokesman said he couldn't comment, while spokespeople from Deutsche Bank, RREEF and Allianz declined comment, and officials at GIP and the Singapore and Shanghai airports couldn't be immediately reached for comment, the report said.

Full story: http://www.bloomberg.com/news/2013-02-21/hochtief-said-to-revive-airports-sale-with-deutsche-help.html

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