Fraport sells its stake in Hannover Airport

Airport operator Fraport sold its 30% stake in Flughafen Hannover-Langenhagen (FHLG), the operating company of Hannover Airport (HAJ), to iCON Infrastructure Group for €109.2 million. Fraport had initially acquired a 20% stake in FHLG in 1998, followed by another 10% five years later. Fraport expects the deal will be complete within the next two months, and that it will have a positive impact of about €77 million on Fraport’s net profit for 2018 after deduction of related income tax liabilities.