Air­port ten­der ex­ceeds ex­pec­ta­tions

Fraport and Slentel land deal to op­er­ate 14 ter­mi­nals around the coun­try for the next 40 years, for 2.1 bln

Kathimerini English - - Front Page - BY VAN­GE­LIS MANDRAVELIS

After around three years of pri­va­ti­za­tion pro­ce­dures, the Greek gov­ern­ment can fi­nally boast that it has re­ceived a sig­nif­i­cant vote of con­fi­dence – com­ing from Ger­many at that. The Ger­man state is the big­gest share­holder in Fraport AG, the company which, in con­sor­tium with lo­cal firm Kopelouzos, was se­lected as the pre­ferred bid­der for the con­ces­sion of 14 re­gional air­ports yes­ter­day.

The Fraport-Slentel con­sor­tium has of­fered more than 2.1 bil­lion euros in to­tal for the 40-year-long con­ces­sion, of which 1.234 bil­lion will be paid in a lump sum and the re­main­der over the course of the four decades, at a rate of 22.9 mil­lion euros per year, which will be ad­justed ac­cord­ing to in­fla­tion.

Fraport-Slentel has also com­mit­ted it­self to the re­al­iza­tion of in­vest­ments of 1.4 bil­lion euros at the 14 air­ports – also in­clud­ing the Mace­do­nia Air­port of Thes­sa­loniki – with 330 mil­lion euros in­vested in the first four years.

The of­fer by the Ger­man-Greek con­sor­tium has ex­ceeded even the most op­ti­mistic es­ti­mates, as the near­est ri­val bid lagged it by 600 mil­lion euros: French group Vinci, part­nered with Athens-listed El­lak­tor, of­fered a one-off price of 870 mil­lion euros and an an­nual lease of 17.9 mil­lion euros, while the bid by Corpo- racion Amer­ica was even lower but still above the es­ti­mate by the in­de­pen­dent valuer for state sell-off fund TAIPED. “The mar­gin of dif­fer­ence was such that it was only a mat­ter of min­utes be­fore the pre­ferred bid­der was cho­sen,” a TAIPED of­fi­cial said yes­ter­day.

Fraport AG chair­man Ste­fan Schulte ex­pressed his sat­is­fac­tion with the out­come: “The Greek re­gional air­ports add another air­port in­vest­ment with dy­namic de­velop- ment po­ten­tial. Our ex­ten­sive knowhow gained over many decades will con­trib­ute to ex­pand­ing and strength­en­ing the com­pet­i­tive po­si­tion of the Greek re­gional air­ports.”

Fraport will con­trol 65 per­cent of the new company that will op­er­ate the ter­mi­nals in Thes­sa­loniki, Rhodes, Corfu, Zakyn­thos, My­conos, San­torini, Ha­nia, Kos, Skiathos, Lesvos, Kavala, Cephalo­nia, Samos and Ak­tio. The re­main­ing 35 per­cent will be­long to the Kopelouzos group.

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