Disclaimer :

The Competition DG makes the information provided by the notifying parties in section 1.2 of Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.

COMP/M.4466 - HTA / CDPQ / KVW / BAA BUDAPEST AIRPORT

SECTION 1.2

Description of the concentration

On 17 November 2006, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 by which the undertakings HOCHTIEF AirPort GmbH (“HTA”) and Caisse de Dépôt et Placement du Québec (“CDPQ”) intend to acquire by way of purchase of shares joint control of the undertaking Budapest Airport Rt. (“BARt”) within the meaning of Article 3(1)(b) of the Council Regulation.

The business activities for the undertakings concerned are:

• HTA is a wholly owned subsidiary of HOCHTIEF Aktiengesellschaft and focuses on airport management services.

• CDPQ is a financial institution that manages funds for public and private pension and insurance funds.

• BARt manages Hungary’s most important commercial airport, Budapest Ferihegy International Airport.

The notified transaction falls within the scope of Regulation (EC) No 139/2004. It is a candidate for the simplified procedure.

The parties submit that the proposed transaction does not raise serious doubts as to its compatibility with the common market or a substantial part thereof.