VINCI Airports Acquires a Minority Interest in Budapest Liszt Ferenc International Airport

2 minute read | June.07.2024

FrançaisOrrick conseille VINCI Airports sur l'acquisition stratégique d'une participation minoritaire dans l'aéroport international de Budapest

VINCI Airports, the world’s leading private airport operator, has acquired  a minority interest in Airport Holding Kft, the holding company of Budapest Airport (BUD), which operates Budapest Liszt Ferenc International Airport.

Orrick advised VINCI Airports.

The transaction was carried out with Corvinus, an investment fund owned by the Hungarian state. It marks a significant expansion of VINCI Airports’ portfolio in Central and Eastern Europe.

As a result of this acquisition, for a total of €3.1 billion, plus net debt of €1.2 billion, VINCI Airports becomes the operator of the Budapest airport hub.


VINCI Airports develops, finances, builds and provides everyday operation of more than 70 airports in 13 countries. 

BUD operates under a long-term asset management agreement, an arrangement similar to a concession agreement. The airport is one of the largest in Central and Eastern Europe. It served more than 16 million passengers in 2019.

The sellers included AviAlliance, CDPQ and Malton Investment.

Beyond the sale and purchase agreement and the strategic long term partnership arrangement with Corvinus for the airport operation, the transaction required the rollover of existing financing with development finance institutions, institutional investors and commercial banks.


“We were thrilled to support VINCI Airports in this landmark acquisition, which will not only enhance their presence in Europe but also contribute to the economic development of Budapest and its surrounding areas. We were equally delighted to work with Corvinus on this important transaction for Hungary,” stated Yves Lepage, lead partner at Orrick.


Yves Lepage (Partner) led a cross-practice Energy and Infrastructure Orrick team that included:

VINCI Airports was advised on Hungarian law aspects by Kinstellar, with a team led by Annamária Csenterics (Partner) and including Gergely Liptak (Senior Associate) and Máté Nagy (Senior Associate).