China-based HNA Group is in exclusive talks to acquire Frankfurt-Hahn Airport in western Germany.
According to sources, HNA Group has teamed up with local German company ADC for the bidding process for the privatization of the project which attracted interest from 13 firms.
As we informed in early August, the Government of Rhineland-Palatinate (Germany) re-opened the bidding process for the privatization of the Frankfurt-Hahn Airport after negotiations with China-based Shanghai Yigian Trading Company (SYT) failed due to concerns about the company's reliability.
KPMG, who acts as Rhineland-Palatinate’s transaction advisor in the transaction process, advised on signing a €13.5 million (US$15 million) agreement with the Chinese company for the sale of the 82.5 percent stake in the asset. However Rhineland-Palatinate canceled the deal as SYT didn't pay on time.
Frankfurt–Hahn Airport is an international airport located 10 km from the town of Kirchberg and 20 km from the town of Simmern in the Rhein-Hunsrück district of Rhineland-Palatinate to the west of central Germany.The airport consists of one passenger and one cargo terminal.