Fraport: sells ICTS Europe. Fraport is selling its wholly-owned ICTS Europe Holdings subsidiary to Deutsche Beteiligungs AG and one of its managed co-investment funds.
Under the contract signed today, a purchase price of € 100 million has been agreed, payable by the purchaser once contractual conditions have been satisfied. The complete transfer will take place when payment has been made by the purchaser.
ICTS Europe Holdings has been a wholly-owned subsidiary of Fraport since 2002 and is now active at about 81 locations in 24 countries. With a staff of about 10,100, the company focuses its operating business on providing security control of passengers at various airports – excluding Frankfurt and Frankfurt-Hahn.
For the year 2007, the company reports revenues of about € 320 million.
r.payne@fraport.de
