11.10.2016
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DGAP-Adhoc: Fraport AG Frankfurt Airport Services Worldwide: Compensation Payments and Sale of Shareholdings in Manila Project
Fraport AG Frankfurt Airport Services Worldwide / Key word(s): Investment/Forecast
11.10.2016 10:22
Disclosure of an inside information according to Article 17 MAR,
transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Frankfurt, October 11, 2016, 9:45 AM CEST
Following the decision of the Supreme Court of the Philippines, PIATCO
(Philippine International Air Terminals Co.) has received compensation
payments for the terminal project in Manila. Based on these payments,
PIATCO has made payments to Fraport AG Frankfurt Airport Services Worldwide
(Fraport AG). Furthermore, effective today October 11, 2016 Fraport AG sold
its shareholdings in the companies in the Philippines and in turn no longer
pursues claims in connection with the expropriation of the terminal project
in Manila.
Fraport AG received an amount of approximately 270 million US dollars from
the total transaction.
From the inflows, Fraport AG will pay up to approximately 40 million Euros
back to the German Federal Government, in connection with investment
guarantees received by Fraport AG in fiscal year 2008 under Germany's
foreign-investment guarantee program (GKA, Bundesgarantie für
Kapitalanlagen im Ausland).
The rest of Fraport's compensation sum will primarily impact the Group
EBITDA, EBIT, and EBT in the current fiscal year 2016 and - taking taxes to
be paid into account - will have a correspondingly positive impact on the
Group result.
In due time, the Fraport AG executive board will recommend to the
supervisory board whether and to what extent the remaining gain should be
reflected in the dividend payment to the shareholders of Fraport AG.
11.10.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: Fraport AG Frankfurt Airport Services Worldwide
-
60547 Frankfurt am Main
Germany
Phone: +49 (0)69 6 90-7 48 42
Fax: +49 (0)69 6 90-7 48 43
E-mail: [email protected]
Internet: www.fraport.de
ISIN: DE0005773303
WKN: 577330
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange
End of Announcement DGAP News-Service
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