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Fraport Acquires Stake in Lima Airport

Fraport AG has acquired the remaining 57.25% stake in the ownership of Lima Airport Partners, the operator of Jorge Chavez International (LIM), Peru’s gateway to the world, though a portion of the shares will be sold to Peruvian investors and the World Bank Investment Fund.

Fraport, which has held a 42.75% share in the airport since 2001, will retain at least 60% ownership in the organization going forward, according to a statement.

In the six years since Fraport entered the market passenger traffic has increased from about 4 million passengers to about 6 million in 2006. From the beginning Fraport has operated the concessions program, which it won with two partners as part of a 30-year contract.