According to Reuters, three teams led by Australia's Macquarie, Spain's Ferrovial and Germany's AviAlliance have dropped out of the race to buy the 49.99 percent stake in Toulouse-Blagnac airport.

Reuters recently reported that the Capitole Alliance comprising Germany's AviAlliance, Banque Populaire Occitane and Caisse d'Epargne Midi-Pyrenees, and OFI InfraVia, said it dropped out because it had not been able to "secure optimal conditions as to the terms of the response to the tender".

Ferrovial and Macquarie did not comment on the news.

According to Reuters, three groups remain in the running for the stake:

• Vinci Airports, CDC Infrastructure (subsidiary of Caisse des Dépôts) and EDF Invest;
• Aéroports de Paris (ADP) along with insurer Predica (Credit Agricole); and
• SNC-Lavalin in partnership with two Chinese investors.

The stake of the fourth airport in France in terms of passenger traffic is being sold by the French government. According to sources, the privatization process will be done in two phases. In the second phase the new shareholder will increase an additional 10.1% stake in the airport totaling a 60% stake.

Toulouse-Blagnac airport has been a limited liability company since 23 March 2007. Shareholders include the French government (60%), Toulouse Chamber of Commerce and Industry (25%), the Regional Council (5%), the Departmental Council (5%) and the Urban Area (5%). Toulouse-Blagnac Airport S.A. operates under a franchise agreement granted by the French government until 2046.

The airport is located 6.7 km west northwest of Toulouse, and partially in Blagnac, both communes of the Haute-Garonne department in the Midi-Pyrénées region of France. Toulouse-Blagnac airport handled more than 7.5 million passengers in 2013, generating revenue of €117.4 million and net profit of 10.6 million.