Taylor Wessing lands leading role in $1.9bn Budapest airport acquisition
Taylor Wessing has secured a role advising airport operator HOCHTIEF Airport (HTA) on its $1.9bn (£1.3bn) acquisition of a controlling stake in Budapest Airport from BAA.
July 18, 2007 at 10:50 PM
2 minute read
Taylor Wessing has secured a role advising airport operator HOCHTIEF Airport (HTA) on its $1.9bn (£1.3bn) acquisition of a controlling stake in Budapest Airport from BAA.
The top 50 UK law firm fielded a team under project finance partners Douglas Bell and Graham Wedlake advising HTA as leader of a consortium including Caisse de Depot et Placement du Quebec, KfW IPEX-Bank and GIC Special Investments.
Bell advised on the acquisition of a majority shareholding in the operating company, Budapest Airport, while Wedlake advised on the financing for the acquisition vehicle, Airport Hungary.
DLA Piper banking partner Nigel Drew advised the 10 lending banks, including Bayerische Landesbank, BNP Paribas and Calyon.
Taylor Wessing previously acted for longstanding client HTA in 2005 on an unsuccessful bid against BAA for Budapest Airport. The current sale took place after BAA's takeover by Ferrovial in June last year, which has triggered a disposal of assets.
GIC was advised by O'Melveny & Myers corporate finance partner Stuart Hills, assisted by counsel Matt Rees, while the other two consortium members were advised in-house.
White & Case project finance partner Peter Finlay advised BAA. Prior to its acquisition by Ferrovial, BAA was advised by Herbert Smith and Ferrovial was advised by Freshfields Bruckhaus Deringer.
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