Airport owner MAp Airports Ltd
(ASX:MAP) has acquired an additional 3% stake in Brussels Airport.
The increase raises the company’s stake in Brussels Airport from 36% to 39%, with MAp Airports retaining control of Brussels Airport.
MAp will pay the fair market price, determined by Ernst & Young, of 46.3 million Euro’s, representing a 2.5% discount to MAp’s June 30, 2009 valuation.
The airport owner says it will pay for the increased interest in Brussels Airport in cash with financial close expected by December 31, 2009.
MAp Airports earned over $2 billion in profit in calendar 2008.
