Fraport Greece raises 620 mln euros in share offering

6 March 2017
144 Views

Fraport Greece, majority owned by Germany’s Fraport, said on Monday 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 ($1.3 billion) 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 in March.

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 from privatization, a condition of its third international bailout.

You may be interested

Kastoria: The lady of Macedonia
GREECE
shares57 views
GREECE
shares57 views

Kastoria: The lady of Macedonia

Panos - Nov 24, 2017

This charming furrier city, whose beauty will most certainly seduce you, is built amphitheatrically on a narrow peninsula, mirrored in…

ECB Lowers Funding Cup for Greek Banks by €1.1 Billion
FINANCE
shares22 views
FINANCE
shares22 views

ECB Lowers Funding Cup for Greek Banks by €1.1 Billion

Panos - Nov 24, 2017

The European Central Bank lowered the cap on Emergency Liquidity Assistance (ELA) Greek banks draw from the domestic central bank…

Black Friday in Greece: Don’t Believe the Hype
GREECE
shares28 views
GREECE
shares28 views

Black Friday in Greece: Don’t Believe the Hype

Panos - Nov 24, 2017

Black Friday fever has taken hold of many Greek consumers this week, but even a knee jerk research in sales…

Leave a Comment

Your email address will not be published.