iCON – Acquisition of stake in an airport in Germany

iCON Infrastructure has agreed to buy a 30% stake in Hanover Airport for EUR 109.2m from German airport group Fraport, its first acquisition in the sector. The price paid by iCON, which will co-own the airport with the City of Hanover (35%) and the State of Lower Saxony (35%), equates to an enterprise value (EV) of around EUR 500m for the whole airport.