Fra­port ready to as­sume con­trol of Greek air­ports

Kathimerini English - - Focus -

Fra­port Greece, ma­jor­ity owned by Ger­many’s Fra­port, said yes­ter­day it has raised 620 mil­lion eu­ros in a share of­fer­ing bringing it closer to a deal to man­age 14 re­gional Greek air­ports. Fra­port signed a 1.2-bil­lion-euro deal in 2015 to op­er­ate the pro­vin­cial air­ports on tourist is­lands in­clud­ing Corfu and San­torini, and has es­tab­lished an air­port man­age­ment com­pany in Athens. It is ex­pected to be­gin op­er­at­ing the air­ports later this month. Fra­port Greece said the eq­uity, now to­tal­ing 650 mil­lion eu­ros, and debt fi­nanc­ing “fully en­sured” the fund­ing of in­fra­struc­ture in­vest­ments it plans to im­ple­ment by 2020, as well as the up­front con­ces­sion pay­ment of 1.2 bil­lion eu­ros due when it takes over man­age­ment. The Fra­port deal will help cash-strapped Greece raise 2.6 bil­lion eu­ros this year

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