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NEWS Last modified on September 9, 2011

Fraport pulls out of bidding race for HOCHTIEF

German airport operator Fraport has confirmed that it is no longer bidding for the international airport portfolio of HOCHTIEF AirPort (HTA).

German airport operator Fraport has confirmed that it is no longer bidding for the international airport portfolio of HOCHTIEF AirPort (HTA).


A spokesman for the group, which operates Frankfurt Airport, confirmed that the consortium consisting of Fraport and the Deutsche Bank AG (DB) subsidiary RREEF has pulled out of the running for HOCHTIEF’s airport “package”.


He said: “We are not proceeding further in the bidding process for HOCHTIEF.”


Remaining bidders include French construction company Vinci and China's HNA, the parent company of Hainan Airlines.


According to Dow Jones, bids for the airport operations of the company currently exceed €1.3 billion.


Dow Jones also revealed that both Vinci and HNA have completed due diligence on the deal and are in talks with HOCHTIEF's owners.


Meanwhile, earlier this week it was reported that a consortium comprising Allianz and Global Infrastructure Partners (GIP) had also dropped out of the running for the company.


Fraport had entered a joint bid with the Deutsche Bank fund to buy a stake in HOCHTIEF’s Concessions unit, which comprises of airports as well as the construction of roads, schools and hospitals.


It had added that it had no interest in HTA’s domestic airports – which include Duesseldorf and Hamburg – but that it’s strategy was to grow its international presence.


HOCTHIEF AirPort currently has stakes in six airports worldwide, including Athens, Budapest, Düsseldorf, Hamburg, Tirana and Sydney.

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