Cash-strapped Slovenia sells main airport

5th September 2014, Comments 0 comments

Slovenia has agreed to sell a 75.5-percent stake in Ljubljana airport to Germany's Fraport, the state investment firm said on Friday, one of a string of planned privatisations by the cash-strapped eurozone country.

Fraport said in a statement that the purchase price is 177.1 million euros ($229.5 million) and that it intends to make an offer to the owners of the remaining 24.5 percent in the company.

Slovenia came close to becoming the sixth member of the eurozone to need a bailout last year but measures including privatisations, budget cuts and a "bad bank" have helped ease fears about its solvency.

The airport, which is profitable and was used by 1.3 million passengers last year, is the third state company to be privatised out of 15 earmarked for sale, with the biggest being the national phone company.

© 2014 AFP

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