The company had a 30% stake in a Manila terminal that was confiscated by the Philippine government years ago. A mediation process granted compensation to Fraport which has finally arrived. The total amounts to $270m (c. €240m). As the German government had paid €40m compensation to Fraport in 2008, this amount has to be paid back. Simultaneously, the stake had been written down to zero years ago. Consequently, the difference of €200m will go directly into Fraport’s EBITDA
11 Oct 2016
Fraport has finally received a cash payment from the Philippines
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Fraport has finally received a cash payment from the Philippines
Fraport AG (FRA:WBO) | 0 0 0.7% | Mkt Cap: 8,167m
- Published:
11 Oct 2016 -
Author:
Hans-Peter Wodniok -
Pages:
2
The company had a 30% stake in a Manila terminal that was confiscated by the Philippine government years ago. A mediation process granted compensation to Fraport which has finally arrived. The total amounts to $270m (c. €240m). As the German government had paid €40m compensation to Fraport in 2008, this amount has to be paid back. Simultaneously, the stake had been written down to zero years ago. Consequently, the difference of €200m will go directly into Fraport’s EBITDA