Fraport accelerates foreign investment pace
Just as BAA seeks to offload some foreign airport assets and
Aeroports de Paris focuses on developing its Paris airports, Fraport is continuing
to pursue offshore growth opportunities. Last week, it confirmed its long-held
ambition to enter the Chinese aviation market by agreeing to acquire a 24.5%
sharholding in Xi'an Airport for EUR50 million. Under the deal, Fraport will
take over the airport's operations and commercial development. Xian Airport,
the capital of Central China’s Shaanxi Province, handled 9.4 million passengers
in 2006 and forecasts 11 million in 2007.
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