The German airport operator says the purchase price was €177.1 million ($229.4 million), while it also explains it will also make an offer for the remaining shares.
Fraport AG says it has paid €61.75 per share, valuing the whole company at €234 million, and the acquisition will be financed through the purchase from its existing capital.
The firm and a consortium headed by the Slovenian Sovereign Holding (SDH) have reached agreement for the purchase of Ljubljana Airport (Aerodrom Ljubljana) in the capital city of Slovenia, southeastern Europe.
Winning against strong international competition in a closed bidding process on July 4, Fraport was selected by the seller side to participate in exclusive negotiations on the sale of Aerodrom Lubljana, the company that operates the airport.
As part of the privatization process, Fraport intends to acquire 100% of the Ljubljana airport company and, thus, will submit a takeover bid to the remaining shareholders, in accordance with legal and statutory requirements.
Dr Stefan Schulte, Fraport AG’s executive board chairman (CEO), expressed satisfaction with the expansion of the company’s international airport portfolio: “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.”
Dr Matthias Zieschang, Fraport AG’s executive board member for controlling and finance (CFO), added: “Our extensive know-how gained over many decades will enable us to further expand and strengthen Ljubljana’s competitive position – a real win-win situation for everyone involved.”
Ljubljana Airport handled 1.32mppa in 2013, earning revenue of about €31 million and net profit of €5.2 million.
The Slovenian government is selling off state-owned companies to raise funds, and stabilise its finances.
The sale is also set to see construction of a new 32,000 square metre terminal building, which would be at the heart of any development expansion project.