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VINCI Airports prepares to submit bid for stake in Hobart Airport

VINCI Airports has taken the first step to initiate the acquisition of an Australian-based airport: Hobart International Airport.

VINCI Airports prepares to submit bid for stake in Hobart Airport

VINCI Airports is preparing to bid on Macquarie Global Infrastructure Fund III stake in Hobart International Airport. The stake is for 50.1 per cent of the airport, which is thought to cost approximately AU$500 million (€308 million).

VINCI is just one of several interested investors in the stake; Queensland Investment Corporation and UniSuper are also thought to be in the running for the investment. Moreover, CBUS and HESTA are expected to make a joint offer on the airport. 

The remaining stake, 49.9 per cent, in the airport is owned by the Tasplan Superannuation Fund.

Due to legal ownership restrictions for foreign companies, VINCI Airports cannot buy the full 50.1 per cent of Hobart Airport, and as such will need to work with an investment partner. 

Final bids for the airport are due at the end of September 2019, and the successful party will be announced in due course. 

Benoit Trochu, VINCI Airports’ Head of Business Development, has told Australian media that he has plans to increase the investment portfolio of his company across Asia and Australia.

Hobart Airport saw passenger numbers increase by 6.6 per cent in 2018, welcoming more than 2.5 million passengers. This rate of growth is higher than any other airports across Australia. Tasmania saw an increase of three per cent of tourists in Q1 in 2019 with more than 1.32 million visitors. 

VINCI manages 45 airports around the world: In May 2019, VINCI Airports purchased the controlling share of 50.01 per cent of shares in London Gatwick Airport from Global Infrastructure Partners (GIP) for roughly $3.68 billion.

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