Global law firm Herbert Smith Freehills has advised iCON Infrastructure on the acquisition of a 30 percent stake in Flughafen Hannover-Langenhagen GmbH from Fraport AG Frankfurt Airport Services Worldwide for €109.2 million.
iCON Infrastructure is a London based independent investor with a focus on infrastructure projects in Europe and North America. The investment in Hanover Airport is the company's first investment in Germany. The Herbert Smith Freehills team was led by Düsseldorf Corporate Partner Dr. Christoph Nawroth, supported by lead associate Dr. Christian Johnen and Markus Schönherr.
Hanover Airport increased its passenger numbers by 8.5 percent to 5.9 million in 2017. In the first half of the current financial year, the airport once again recorded a 7.8 percent increase in passenger volume. Fraport AG acquired its shares in Hanover airport in two steps in 1998 and 2003.
The other two shareholders of Hanover Airport are the City of Hanover and the State of Lower Saxony with a stake of 35 percent each.