Press release

HOCHTIEF AirPort increases stake in Hamburg Airport

Essen
28.08.2002

Hamburg Airport Partners GmbH & Co. KG – owned by HOCHTIEF AirPort GmbH and its partner Aer Rianta in a ratio of 80/20 – is increasing its stake in the North German aviation hub by acquiring a further nine percent of the operating company‘s stock. This gives the consortium a 49 percent interest in Germany‘s fifth-largest airport, with the remaining 51 percent being held by the City of Hamburg. This option was laid down in the original agreement, as was the purchase price of around EUR 70 million for the new shares.

"We are delighted that following our successful entry into Sydney Airport in June, we have now been able to strengthen our position in Germany as well," said a statement by the two HOCHTIEF AirPort managing directors, Dr. Reinhard Kalenda and Dr. Ulrich Stucke. They emphasized that the company is pursuing its expansion strategy despite the temporarily difficult situation in the aviation market. "Figures are already improving again and this is an indication that in the long term, the prospects for this sector are very good. This applies particularly to Hamburg - with its specific structure, its manageable size and favorable location, this airport will soon have overcome the effects of the crisis entirely.“

HOCHTIEF AirPort, in which all the airport activities of the HOCHTIEF Group are focused, hold stakes in the airports of Athens, Düsseldorf, Hamburg and Sydney. It recently also acquired an interest in Transport and Logistics Consultancy Limited of London. The associated airports handle a passenger volume of around 62 million a year, making HOCHTIEF AirPort one of the world‘s largest independent airport managers.