13 teams show interest for Frankfurt Hahn airport sale
Thirteen firms have expressed interest in the purchase of the Frankfurt-Hahn Airport outside Frankfurt in the new bidding process for the privatization of the project.
As we informed in early August, the Government of Rhineland-Palatinate (Germany) re-opened the bidding process for the privatization of the Frankfurt-Hahn Airport after negotiations with China-based Shanghai Yigian Trading Company (SYT) failed due to concerns about the company's reliability.
KPMG, who acts as Rhineland-Palatinate’s transaction advisor in the transaction process, advised on signing a €13.5 million (US$15 million) agreement with the Chinese company for the sale of the 82.5 percent stake in the asset. However Rhineland-Palatinate canceled the deal as SYT didn't pay on time.
Other companies interested in the bidding process were German-Chinese investor ADC and an unknown Chinese-American investor. Other bidders haven't yet been disclosed.
Frankfurt–Hahn Airport is an international airport located 10 km from the town of Kirchberg and 20 km from the town of Simmern in the Rhein-Hunsrück district of Rhineland-Palatinate to the west of central Germany.The airport consists of one passenger and one cargo terminal.
According to sources, Frankfurt-Hahn Airport lost €17.5 million last year.
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