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Danish state set to acquire controlling stake in Copenhagen Airport

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Denmark’s Finance Ministry has reached a conditional agreement with Danish pension fund ATP to buy a further 59.4% of the shares in Copenhagen Airports for around $4.52 billion.

If the deal goes through, the Danish state will own 98.6% of the company, which owns and operates Copenhagen Airport, although it could eventually reduce this to 50.1% over time, the ministry said in a statement.

Reuters quotes the country’s Finance Minister, Nicolai Wammen, as stating: “This will ensure that the airport will continue to have a responsible and long-term group of owners in the future.

“We will secure a good framework for the airport as a central Danish infrastructure and one of Denmark’s largest workplaces.”

The purchase agreement had been made on market terms, and the implementation was conditional on obtaining relevant regulatory approvals among other things, the ministry said.

In response to the news, Copenhagen Airports CEO, Christian Poulsen, said: “At Copenhagen Airport, we have ambitions for our company and for the green transformation of aviation.

“I have noted that the parties to the agreement agree that Denmark must also in the future have a strong international airport that contributes significantly to Denmark’s accessibility and to the transformation of our industry. It is positive for Danish infrastructure when the airport’s owner supports this need.”

SAS has welcomed the news, calling it a “significant and forward looking move that will strengthen Denmark’s infrastructure and connectivity.”

It adds that the decision will also ensure alignment of strategic interests in the development of a world-class hub in the years to come.

The airline notes that as SAS continues to expand its operations from Copenhagen, “positioning the airport as a premier global gateway to and from Scandinavia and Northern Europe, substantial investments from both SAS and Copenhagen Airport are essential”, adding that this expansion requires a significant multi-billion kroner investment and will enhance Denmark’s connectivity, driving economic growth and creating new jobs.

Commenting on the decision, SAS president and CEO, Anko van der Werff, says: “This is a crucial step for Danish and Scandinavian connectivity.

“Strengthening Copenhagen Airport as a global hub requires close collaboration between all stakeholders, and we warmly welcome the Danish State’s decision as it will facilitate the necessary alignment for stronger Scandinavian connectivity.”

Copenhagen Airport’s chairman of the board, Lars Nørby Johansen, states: “It is important for Copenhagen Airport that there is peace of mind regarding the ownership with a responsible and long-term owner.

“This secures the airport’s future and provides a good framework for the airport as a central infrastructure that at the same time contributes to the Danish economy, Danish business life and Danish workplaces.”

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