The sale of a 49 percent stake in the world’s biggest airports operator, Spain’s Aena, has not exactly taken off. <br /><br />Local media reported there was interest from just three potential core investors for what is one of the largest initial public offerings of shares in Europe this year.<br /><br />Reportedly there were bids from Ferrovial, Corporacion Financiera Alba and the Children’s Investment Fund. <br /><br />That is below the “six or seven” institutional investors the Spanish government had said last month would make an offer.<br /><br />The plan is for a group of core investors to take a 21 percent stake in Aena.<br /><br />A further 28 percent would be sold to domestic and foreign investors, primarily financial institutions, via an initial public offering with the shares listed on the Madrid stock exchange in November.<br /><br />Aena operates 46 airports in Spain, has stakes in many Latin American airports and will soon also hold a majority stake in Luton airport in Britain.<br /><br />The group made a profit of 715 million euros in 2013, while its airports division made a first-time profit of 597 million euros due to a recovery in passenger traffic after Spain returned to growth last year following a long recession.<br /><br />with Reuters
