HGA Partners Limited presents an offer for Ciudad Real airport

Air Nostrum operating in Ciudad Real Central Airport by Tercera Fundación - Flickr

The company HGA Partners Limited, through its General Director – Uttam Reddy – presented a 90 million Euro offer to acquire the Ciudad Real airport. This is a firm, binding and irrevocable offer for the airport, which is currently under court receivership. Hence the High Court of the Autonomous Region – Castilla La Mancha – said the viability of the offer is now being analysed. The information was published in ElConfidencial last Thursday. In July 2014 the Commercial Court of Ciudad Real extended the deadline for the sale, lowering the asking price to 80 million Euros in an attempt to find a buyer. Otherwise, the airport would be auctioned at a public bidding on June 19.

After this article, on Sunday, CadenaSer informed that while the offer is being analysed, the auction plans are still standing. In order to place bids, candidates must place a deposit of 2 million Euros beforehand. Then, if the offer from HGA Partners Limited was accepted, the auction would be called off. In the meantime, the company in charge of Luton Airport management in London said they were not interested in Ciudad Real Central. Aena holds a 51% stake of Luton and the other 49% is owned by Ardian who announced the following:

The owners of London Luton Airport, Aena and Ardian, as well as Lord Brennan – who sits on the Board of London Luton Airport – wish to make clear that, contrary to press reports, neither together or individually, have they made any bid for Airport Ciudad Real

Thus, CadenaSer confirms that the above mentioned offer was presented on May 29 by HGA Partners and is linked with Griffin Pegasus whose CEO is Uttam Reddy, who signed the offer. Daniel Brennan is an English lord. He sits on the Griffin Pegasus’ board and, at the same time, he is a director of London Luton Airport Holdings III. Finally, on the same Sunday, ElEconomista published an article which explains that the offer might be rejected. Apparently, one of the conditions for an offer to be accepted was to have a financial guarantee but the offer presented by HGA Partners Limited did not have one. Moreover, another condition was to deposit an amount of 5% of the offer’s total amount – €90m – in a bank account. This condition would not have been met either.

Photo: Air Nostrum operating in Ciudad Real Central Airport by Tercera Fundación – Flickr