ATHENS, March 6 Fraport Greece, majority owned
by Germany's Fraport, said on Monday it has raised 620
million euros in a share offering bringing it closer to a deal
to manage 14 regional Greek airports.
Fraport signed a 1.2 billion euro ($1.3 billion) deal in
2015 to operate the provincial airports on tourist islands
including Corfu and Santorini, and has established an airport
management company in Athens.
It is expected to begin operating the airports in March.
Fraport Greece said the equity, now totalling 650 million
euros, and debt financing "fully ensured" the funding of
infrastructure investments it plans to implement by 2020, as
well as the upfront concession payment of 1.2 billion euros due
when it takes over management.
The Fraport deal will help cash-strapped Greece raise 2.6
billion euros this year from privatisation, a condition of its
third international bailout.
(Reporting by Karolina Tagaris; Editing by Ruth Pitchford)