HNA Group announced that it has completed the previously announced acquisition of an 82.5% equity interest in Frankfurt-Hahn Airport from the state of Rhineland-Palatinate. The transaction is valued at €15.1 million.
HNA Group issued the following statement regarding the closing of the transaction:
“We are pleased to complete the acquisition of Frankfurt-Hahn Airport, which we believe will accelerate the growth of our airport and airport services businesses. This strategic investment will also enable us to increase the value chain and services that we provide through our core global tourism and logistics verticals. We look forward to working closely with the local authorities, the region’s talented workforce and the community as we invest in Frankfurt-Hahn’s infrastructure to enhance its capacity. We believe the airport can become a leading hub of commerce between China and Europe in support of China’s “One Belt One Road” initiative. Today’s closing marks the start of an exciting new chapter in Frankfurt-Hahn Airport’s history, and we are eager to be true partners in making that future a resounding success.”
Frankfurt-Hahn Airport is located in the German state of Rhineland-Palatine and is currently serving 53 passenger and freight routes. It has the commercial capacity to serve five million passengers annually and can support the Airbus A380 and other large commercial airplanes.
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