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French airports sale draws at least 11 firm offers-sources

Published 05/07/2016, 12:52 am
Updated 05/07/2016, 01:00 am
© Reuters.  French airports sale draws at least 11 firm offers-sources

PARIS, July 4 (Reuters) - The sale of 60 percent stakes in the French airports of Nice Cote d'Azur and Lyon-Saint-Exupery has attracted at least 11 firm offers while two potential candidates have dropped out of the race for Nice, sources close to the bidders said on Monday.

Bidders had until midday on Monday to submit their offers, with a decision slated for August.

According to a source, offers ranged from 750 million to 900 million euros on average for Nice and from 500 million to 800 million euros for Lyon, or a valuation of 13-14 times Earnings Before Interest Taxes Depreciation and Amortisation (EBITDA).

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