ECONOMY

Germany’s Fraport renews offer in airports deal

germany-amp-8217-s-fraport-renews-offer-in-airports-deal

Greece's privatizations agency said on Wednesday that Germany's Fraport and two other short-listed bidders had renewed their offers to lease 14 Greek regional airports.

It said it expected the deal to be signed by the end of the year.

Fraport, the preferred bidder, had previously agreed to pay a lump sum of 1.2 billion euros ($1.35 billion) and annual rental fees of about 23 million euros for the 40-year lease of airports in popular tourist locations, including Corfu.

It is also expected to invest a total of 1.4 billion euros over the period. [Reuters]