Fraport AG Frankfurt Airport Services Worldwide
euro adhoc: Fraport AG Frankfurt Airport Services Worldwide
other
Fraport AG
receives EUR 41.9 million under German investment guarantee program for its
Manila investments
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
16.04.2008
The German government agreed today (April 16, 2008) to pay Fraport AG EUR 41.9 million under the federal government´s investment guarantee for capital investments outside Germany. Fraport AG had concluded such a guarantee contract as protection against political risks for its equity investment made in the Manila project. The amount can be increased, when specific requirements are met, by a further EUR 3.9 million - and is being made with a conditional payback provision, oriented on the outcome of the legal proceedings. Furthermore, the payment is subject to Fraport AG´s acceptance of payout conditions. This payment is expected to occur in three months.
The impact of this payment on Fraport AG´s financial results is currently being examined.
In addition to this payment, Fraport AG is pursuing further claims that are not covered by the federal government´s investment guarantee. Fraport AG and the joint-venture company in the Philippines are pursuing their compensation claims against the Philippine government at national and international courts.
Fraport AG already made a complete write-down on its financial investment in the Manila terminal project in fiscal years 2001 and 2002, and received a first payment of approximately EUR 27 million in 2006.
end of announcement euro adhoc
Further inquiry note:
Stefan J. Rüter
Telefon: +49(0)69 690-74840
E-Mail: s.rueter@fraport.de
Branche: Transport
ISIN: DE0005773303
WKN: 577330
Index: Midcap Market Index, MDAX, CDAX, Classic All Share, HDAX,
Prime All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
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