Frankfurt-Hahn Airport open for bids again
The Government of Rhineland-Palatinate (Germany) has re-opened the bidding process for the privatization of the Frankfurt-Hahn Airport after negotiations with Shanghai Yigian Trading Company (SYT) failed.
KPMG, who acts as Rhineland-Palatinate’s transaction advisor in the sale process, signed a €13.5 million (US$15 million) agreement with the Chinese company. However Rhineland-Palatinate canceled the deal as SYT didn't pay on time.
After the deal failed, Rhineland-Palatinate will re-open the bidding process to new investors. Other companies interested in the bidding process were German-Chinese investor ADC and an unknown Chinese-American investor.
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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