01.02.2006 – 13:18
euro adhoc: Fraport AG Frankfurt Airport Services Worldwide
/ 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:
Tel.: +49 (0)69 690 748 42
Börsen: Frankfurter Wertpapierbörse / official dealing/prime standard
Börse Berlin-Bremen / free trade
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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