Japan will in October invite offers for the operating rights for a major international airport, an official said on Friday, in a deal expected to be among the biggest in Prime Minister Shinzo Abe's drive to draw private funds into public infrastructure. The licence for New Kansai International Airport, which will be bundled with the operating rights for smaller Osaka International Airport, should fetch at least 2 trillion yen ($20 billion), Keiichi Ando, the chief executive of the government-owned New Kansai International Airport Co, told reporters.The operating licence for both airports will be for 45 years and the auction is open to foreign and domestic investors, he added. The winner is likely to be announced by June next year.The company, which runs both airports, will use the proceeds to repay its 1.2 trillion yen debt to the state, Ando said. New Kansai International Airport is a regional hub in Osaka bay and Japan's fifth-largest airport by passenger traffic while Osaka airport is smaller.SMBC Nikko Securities, the investment banking unit of Sumitomo Mitsui Financial Group, and Citigroup Inc are among the advisers for the sale.
Citigroup Inc. (Citigroup) is a global diversified financial services holding company whose businesses provide consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services and wealth management. Shares of C fell by 0.18% or $-0.09/share to $50.09. In the past year, the shares have traded as low as $45.18 and as high as $55.28. On average, 16637500 shares of C exchange hands on a given day and today's volume is recorded at 13287978.
Sumitomo Mitsui Financial Group, Inc. (SMFG) is principally engaged in the operation of banking business. Shares of SMFG traded higher by 0.37% or $0.03/share to $8.09. In the past year, the shares have traded as low as $7.59 and as high as $10.59. On average, 1127980 shares of SMFG exchange hands on a given day and today's volume is recorded at 1286751.
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