Frankfurt Airport operator Fraport AG and a consortium headed by the Slovenia Sovereign Holdings have reached agreement to purchase Ljubljana Airport in the capital city of Slovenia. 

Under the agreement, Fraport AG will pay €177.1 million ($229.2 million) for a 75.5% stake in Aerodrom Ljubljana. The acquisition will be financed from current liquid funds.  As part of the privatization process, Fraport aims to acquire 100% of Ljubljana Airport and will submit a takeover bid to the remaining shareholders in accordance with legal and statutory requirements. 

Ljubljana Airport handled about 1.3 million passengers last year, up from 1.2 million in 2012. The airport reaches a catchment area of some 4 million inhabitants within a 250-km radius, which includes border areas in neighboring Italy, Austria, Croatia and Hungary. The airport also serves as a hub in the Balkan region and is the main base of Star Alliance member Adria Airways.

Fraport  CEO Stefan Schulte said in a statement, “With Ljubljana, we are adding another airport investment with dynamic development potential. The choice for Fraport underscores our position as a leading global airport manager.”