Fraport sells off 30% stake in Hannover Airport

Source: Visit Hannover.

Fraport is due to sell off its minority stake in Hannover Airport in the next two months.

The airport operator will sell off its 30% stake to iCON, an infrastructure company, for just over €109m.

Fraport initially acquired a 20% stake in the German airport in 1998 followed by a subsequent 10% in 2003.

The airport operator noted that the sale of its stake in Hannover will boost its own profits by around €77m.