Romania’s transportation ministry vetoes the merger of two core airports in a move to list shares

The merger of the two airports started in March. The ministry holds 80 percent of the shares in the two airports while Proprietatea Fund, a fund created to pay damages to those whose properties were seized during the communist regime, before 1989, holds 20 percent.

The transportation body wants the two airports to continue as distinct entities. The same institution reminded on June 1 this year a utility aviation company sued the two airports over land issues. This led to a court order that suspended the planned merger.

Common projects for infrastructure development and a single marketing and management policy would be drafted after the completion of the merger. The merger would eliminate competition between the two airports and would prepare the company’s future privatization by creating a sole stake that would be listed on the stock exchange, the ministry had formerly said.

Source: NewsIn