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 FRANKFURT: August 06, 2018. Frankfurt Airport Services Worldwide (Fraport AG) is to sell its 30 percent stake in Hannover Airport to the iCON Infrastructure Group for €109.2 million.

Hannover AirportFraport acquired shares in the airport’s operating company FHLG in 1998 (20 percent) and 2003 (10 percent). The other shareholders are the City of Hannover and a wholly-owned company owned by the State of Lower Saxony.

Assuming the two investors do not exercise their pre-emption rights, Fraport expects the sale to contribute about €85 million to its 2018 earnings before taxes and €77 million to its net profit.

“For some time, we have received strong interest from the market for Fraport to sell its stake in Hannover Airport,” said executive board chairman Stefan Schulte. “Hannover Airport is a solid business with a bright future. It has developed into an important aviation gateway in northern Germany for both passenger and cargo traffic,” he added.

The airport handled 16,861 tonnes of airfreight and mail in 2017, down from 18,935 tonnes the previous year.

iCON is an independent investment group with over €2.5 billion in assets under management in 17 companies covering water, transportation, energy generation, distribution and storage sectors.

 

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