Vienna Airport: Approval procedure for IFM offer extended

The IFM subsidiary Airports Group Europe S.à rl announced on Friday that the approval process by the Federal Ministry of Labor and Economics for the partial public offer for around 9,99 percent of the shares in Flughafen Wien AG is entering "Phase II".

The extension, which took place under Austria's Investment Control Act and can last up to two months, was expected and is not unusual for critical infrastructure assets, the company said in a press release.

“We are aware that the partial public offer for Vienna Airport shares was heavily debated. Given the importance of the airport for Austria and the Austrian economy as a whole, the public attention is understandable. IFM Investors was founded more than 25 years ago by non-profit Australian pension funds in partnership with the Australian trade union movement to protect and grow working age pension plans. Today, we invest primarily on behalf of pension funds from Australia, Europe, the US and Canada, representing more than 120 million workers worldwide, including nurses, teachers, caregivers, construction and hospitality workers,” explains Werner Kersch, IFM Investors Executive Director infrastructure.