Fraport Greece raises 620 mln euros in share offering

6 March 2017
190 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

Giannis Antetokounmpo never forgets his roots
GREECE
shares48 views
GREECE
shares48 views

Giannis Antetokounmpo never forgets his roots

makis - Feb 19, 2018

In an interview with ESPN, Giannis Antetokounmpo, known as the “Greek Freak” due to freakish athletic abilities and his prowess…

FYROM PM: Name dispute with Greece to be resolved by July
POLITICS
shares51 views
POLITICS
shares51 views

FYROM PM: Name dispute with Greece to be resolved by July

makis - Feb 19, 2018

The Prime Minister of FYROM, Zoran Zaev effectively announced that his country will have reached an agreement on the name…

Bloomberg: Greece will not receive € 5.7bln tranche at EuroGroup today
FINANCE
shares88 views
FINANCE
shares88 views

Bloomberg: Greece will not receive € 5.7bln tranche at EuroGroup today

makis - Feb 19, 2018

Greece is not expected to receive the Eurogroup approval today for the € 5.7 billion disbursements, as there are still…

Leave a Comment

Your email address will not be published.