Fraport on 6 August agreed to sell its 30% stake in Hannover Airport to iCON Infrastructure Group company iCON Flughafen GmbH.
The deal is expected to close by October, pending agreement on pre-emption rights from the two other shareholders in Hannover Airport. The City of Hannover and Hannoversche Beteiligungsgesellschaft Niedersachsen (owned by the State of Lower Saxony) each own 35%.
Fraport believes the sale of its stake in Hannover Airport will generate EUR85 million (USD98 million), which translates into a EUR77 million lift on net profits for 2018. This means that the company is likely to exceed the profit margins forecast at the start of the year.
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