Fraport AG

M&A Activity • Nov 25, 2014

News Details

Ad-hoc | 25 November 2014 14:29

Fraport AG Frankfurt Airport Services Worldwide: Fraport AG named as ‘preferred investor’ in the bidding process of regional airports in Greece

Fraport AG Frankfurt Airport Services Worldwide / Key word(s): Acquisition/Agreement

25.11.2014 14:29

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Today, on November 25th 2014, Fraport AG Frankfurt Airport Services
Worldwide and its Greek partner Copelouzos Group have been selected as
"preferred investor" in the bidding process for a 40-year operating
concession of 14 regional airports in Greece. This concession comprises:
the seven airports of Thessaloniki, Aktio, Chania (Crete), Kavala,
Kefalonia, Kerkyra (Corfu) and Zakynthos in Cluster A; as well as the seven
airports of Rhodes, Kos,Mykonos, Mytilini, Samos, Santorini and Skiathos in
Cluster B. The total purchase price for this concession is 1,234 million
Euros and will be paid by the time of closing, expected in the autumn of
2015. Fraport AG will hold a majority share in the consortium. There will
be no further negotiations regarding the purchase price and contract during
the period to the end of the transaction closing.

Consolidation of the Greek operating company will occur after the
transaction has been completed, probably by the end of 2015. Based on
Fraport's share in the consortium, the operating company will be fully
consolidated.

In 2013, these airports served a total of about 19.1 million passengers.
The operating company is expected to have revenue of more than 180 million
Euros in 2016, with EBITDA exceeding 90 million Euros. Due to interest
charges, depreciation of the purchase payment and effects related to
concession accounting, the annual net result of the consolidated company in
the first three years will be a negative amount of about 100 million Euros
accumulated, which will directly impact the Fraport Group result.

25.11.2014 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
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Language: English
Company: Fraport AG Frankfurt Airport Services Worldwide
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60547 Frankfurt am Main
Germany
Phone: +49 (0)69 6 90-7 48 42
Fax: +49 (0)69 6 90-7 48 43
E-mail: investor.relations@fraport.de
Internet: www.fraport.de
ISIN: DE0005773303
WKN: 577330
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart

End of Announcement DGAP News-Service

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