BERLIN, March 1 The local government owner of
German airport Hahn has decided to sell the loss-making airport
in western Germany to acquisitive Chinese conglomerate HNA, it
said on Wednesday.
The federal state of Rhineland-Palatinate had to restart the
sale process last year after the previous winning bidder failed
to make any payments.
Rhineland-Palatinate said in a brief statement that a
council of ministers had decided on the sale of the state's 82.5
percent stake and that the parties could now move towards
Details of the purchase price and plans for Hahn, a former
military base now used mainly by low-cost carrier Ryanair
, were not given.
A source familiar with the matter said the purchase price
was around 15 million euros ($16 million).
The previous bidder, also from China, had wanted to use
Hahn, around 120 kilometres (75 miles) from Frankfurt, as a base
for food exports from Germany to Asia, as well as boost
The interest from China shows the country's appetite for
overseas infrastructure and travel assets as it aims to boost
trade links between Europe and Asia.
HNA, the owner of Hainan Airlines Co has bought
airline caterers Gate Group and a stake in Servair,
plus hotels group Hilton and a stake in Brazilian
airline Azul, among some of its recent travel industry deals.
($1 = 0.9468 euros)
(Reporting by Victoria Bryan; Editing by Georgina Prodhan and