PERU/GERMANY. Fraport has increased its stake in Lima Airport Partners from 42.75% to 100% after taking over the stake controlled by fellow shareholder Alterra Lima Holdings, led by the Bechtel Group.
Fraport, which has been a shareholder since 2001, said it would sell part of its stake, but would retain at least 60% of the company.
Lima Airport handled 6 million passengers in 2006, up from 4 million in 2001 when Fraport took its initial stake. In the first six months of 2007 passenger traffic has risen by +25% on the same period last year. Lima Airport Partners has already invested €150 million in developing the airport, under a 30-year concession. Lima Airport Partners had a turnover in 2006 of €80 million, with EBITDA of €20 million.
In autumn 2000 Fraport won the concession alongside two partners, Bechtel and Peruvian firm Cosapi, before beginning the contract in February 2001. In 2002 Bechtel acquired Cosapi’s 14.5% stake, taking its share to 57.25%. Now Bechtel is withdrawing from the airports business due to a change of strategy.
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