As expected, Fraport AG is to acquire a 75.5% holding in Aerodrom Ljubljana d.d by paying €177.1m ($229.6m) in liquid funds.

 

 

Fraport AG is buying the Slovenian capital city airport as part of a consortium offering headed by the Slovenian Sovereign Holding (SDH) company, having beaten off strong international competition in a closed bidding process on July 4.

 

Fraport was then selected by the seller to participate in exclusive negotiations on the sale of Aerodrom Ljubljana d.d. the company that effectively operates the airport.

 

As part of the privatization process, Fraport says it intends to acquire 100% of the Ljubljana airport company and will offer to buy all the remaining shareholders’ out in accordance with legal and statutory requirements. In 2013, Ljubljana Airport handled approximately 1.3m passengers, up from 1.2m in 2012.

 

‘DYNAMIC DEVELOPMENT POTENTIAL’

Commenting on the imminent acquisition, Dr. Stefan Schulte, Fraport AG’s Executive Board Chairman and CEO said: “With Ljubljana, we are adding another airport investment with dynamic development potential. The choice for Fraport underscores our position as a leading global airport manager.”

 

 

 

 

Describing the airport, Fraport said: “Historically, Ljubljana has been a strategic crossroads of trade between the Danube, Alps and Adriatic Sea. Also known as Jože Pučnik Airport, LJU (http://www.lju-airport.si/en/Main) is Slovenia’s national air transportation gateway and a vital infrastructure engine for the country’s diversified and growing export-driven economy.

 

“In 2004, Slovenia joined the European Union (EU) and the euro zone in 2007. LJU reaches a catchment area of some 4m inhabitants within a 250-km radius, which includes border areas in neighbouring Italy, Austria, Croatia and Hungary.  The airport also serves as a hub in the Balkan region.”

 

The joint venture company of local firm Regal and Gebr. Heinemann operate the duty free stores at the airport.

 

News that Fraport was interested in buying Aerodrom Ljubljana was first covered by TRBusiness in August [click here: http://www.trbusiness.com/index.php/regional/europe/15715-fraport-continues-shopping-spree.html]