PRESSEPORTAL Presseportal Logo
All Stories
Subscribe to Fraport AG

01.02.2006 – 13:18

Fraport AG

euro adhoc: Fraport AG Frankfurt Airport Services Worldwide
Justice/Processes / Update concerning the offer to take over Fraports stake in the Manila Project: no execution of intended transaction

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
The intended contract for the sale of Fraports stake in PIATCO, the
special purpose vehicle for the operation of the International
Passenger Terminal III at Manila's international airport, and in the
PTI, PTH and PAGS joint-venture companies, for a total price of
U.S.$200 million has not been concluded. The Executive Board of
Fraport AG has noted today that substantial roadblocks in reaching an
agreement could not be removed. For the intended transaction, among
others, a waiver of right of first refusal by the co-shareholders was
required. This waiver was not declared.
Fraport AG vigorously continues to pursue its claims. In the
arbitration proceedings at the International Centre for Settlement of
Investment Disputes (ICSID) of the World Bank in Washington, D.C.,
Fraport is confident that it has a strong case.
end of announcement                               euro adhoc 01.02.2006 12:47:56

Further inquiry note:

Christoph Hommerich
Tel.: +49 (0)69 690 748 42

Branche: Transport
ISIN: DE0005773303
WKN: 577330
Index: MDAX
Börsen: Frankfurter Wertpapierbörse / official dealing/prime standard
Börse Berlin-Bremen / free trade
Hamburger Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Niedersächsische Börse zu Hannover / free trade
Bayerische Börse / free trade

Original content of: Fraport AG, transmitted by news aktuell

More stories: Fraport AG
More stories: Fraport AG