Germany's Fraport gets 24.5 percent stake in NW China airport

Germany's Fraport, the operator of Frankfurt Airport, has become one of the shareholders of Xianyang International Airport in northwest China's Shaanxi Province by obtaining a 24.5 percent stake.

Under an agreement signed here Friday at an investment and trade forum, Fraport will pay 490 million yuan for the stake while the state-owned company China West Airport Group, former sole owner of the airport, will hold 50.9 percent of shares.

The other two shareholders are China National Aviation Holding Company with a 24.5 percent stake and Xi'an Airport Logistics Co. Ltd. of China West Airport Group.

The Xianyang Airport is the largest in northwest China and handled 9.4 million passengers last year. (One U.S. dollar is equal to 7.7251 yuan)

Source: Xinhua