Issued by: SA Communication Service
10 March 1998
Statement by the Ministers of Transport and Public Enterprises
Four bidders have submitted proposals to be the strategic equity partner for Airports Company South Africa (ACSA). Deutsche Morgan Grenfell, the transaction advisor, confirmed that by the deadline (Monday, 9 March), bids had been submitted by the following international airport operators:
- Aeroporti di Roma;
- Amsterdam Airport Schiphol;
- BAA (including London Heathrow); and
- Flughafen Frankfurt together with Aeroporti de Montreal.
The Minister of Transport Mac Maharaj welcomed the level of interest in ACSA. "The fact that we have received bids from four major international operators demonstrates the exciting potential of ACSA, which in turn reflects the strong forecasts for growth in the South African tourism market and the scope for developing the company's retailing and property activities."
The bids will be evaluated over the next two weeks by a team representing government, ACSA and labour with a view to selecting the preferred bidder and finalising the deal by April this year. The successful bidder will acquire a 20 percent shareholding plus an option to acquire a further 10 percent in the company at a subsequent date.
One the strategic equity partner has been brought on board, government will later this year offer 10 percent of the company to empowerment investors, a further 10 percent to the National Empowerment Fund and nine percent to the company's management and employees.
Issued by Didi Moyle: PA and Media Liaison Officer to the Minister of Transport