Press Release
| February 27, 2009
Dewey & LeBoeuf advises Fraport on the sale of its 65 percent stake in the Frankfurt-Hahn airport to the state Rhineland-Palatinate
Frankfurt am Main, February 27, 2009 - Dewey & LeBoeuf advised Fraport AG Frankfurt Airport Services Worldwide on the sale of its 65 percent interest in Flughafen Frankfurt-Hahn GmbH to the state Rhineland-Palatinate.
Previously, Flughafen Frankfurt-Hahn GmbH, which is the operator of the airport in Hahn, was owned by Fraport AG (65 percent) and the federal states Rhineland-Palatinate and Hesse, each holding a further 17.5 percent stake.
In light of different strategic views to achieve profitability of Flughafen Frankfurt-Hahn GmbH, whose main customer is Ryanair, Fraport AG decided against a continued financial involvement in the airport Frankfurt-Hahn and therefore sold its entire stake to the state Rhineland-Palatinate.
This transaction puts to an end all existing financial obligations of Fraport AG. The relevant bodies of Rhineland-Palatinate and Hesse, as well as Fraport AG have approved the sale. The merger control-related approval has also been granted.
A team of Dewey & LeBoeuf lawyers led by Partners Philipp von Ilberg and Michael Neises advised Fraport on all legal and tax aspects of the transaction. Philipp von Ilberg had already advised Fraport on its IPO in 2001.
Advisors Fraport AG:
Dewey & LeBoeuf, Frankfurt: Philipp von Ilberg (Partner, Frankfurt), Bernulph von Crailsheim (Partner, Frankfurt), Michael Neises (Local Partner, Frankfurt/London), Jan Krekeler (Associate, Frankfurt), Wjatscheslav Anissimov (Associate, Frankfurt)
In house: Ulrich Stoermer, Head of Legal, Fraport AG
Contact:
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Sebastian Müller
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Janine Beunings
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Head of HR & Administration
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Marketing & Communications Manager
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+49 69 3639 3450
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+49 69 3639 3485
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semueller@dl.com
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jbeunings@dl.com
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For more information, please contact your Dewey & LeBoeuf relationship partner, or one of the following:
This memorandum is intended only as a general discussion of these issues. It is not considered to be legal advice. We would be pleased to provide additional details or advice about specific situations. For additional information on this important topic, please feel free to call upon your Dewey & LeBoeuf relationship partner. No part of this publication may be reproduced, in whole or in part, in any form, without our prior written consent.
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