"Fraport Pulls Out of Bidding for Brussels International Airport"

Monday, July 12, 2004

Fraport Pulls Out of Bidding for Brussels International Airport
Bloomberg


Fraport AG, which owns Frankfurt Airport, said it's dropping plans to
seek a stake in Brussels International Airport Co., leaving Schiphol
Group NV, the operator of Amsterdam's airfield, as the main remaining
bidder. 

``We're no longer participating in the bidding project for Brussels,''
Robert Payne, a spokesman at Frankfurt-based Fraport, said in a phone
interview. He declined to give details or to say whether Fraport would
seek a management contract at the Belgian capital's main airport. 

The Belgian government owns about 63 percent of Brussels International
Airport and in January appointed ING Groep NV, the biggest Dutch
financial services provider, to find a buyer for its holding. Fraport
and Schiphol said last month that they were interested in forming groups
to buy a stake. 

Other shareholders in Brussels International Airport include Belgian
financial companies KBC Bancassurance Holding NV and Dexia SA and
investment companies Groupe Bruxelles Lambert SA and Ackermans & van
Haaren NV. 

Brussels is the main base for Virgin Express Holdings Plc, a low-fare
carrier controlled by U.K. billionaire Richard Branson's Virgin Group,
and SN Brussels Airlines. The number of passengers served last year,
including general aviation and military travelers, rose 5.2 percent to
15.2 million people, according to the airport's Web site. 

Fraport shares were up 7 cents, or 0.3 percent, at 23.77 euros as of
12:01 p.m. in Frankfurt. The stock was down as much as 0.3 percent
earlier in the day.


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