CPH signs concession agreement with the Bulgarian state

Friday, 10. June 2005 14:01

The agreement involves an investment programme of approximately EUR
140 million during the period 2005-2008 and a 30% revenue-based
concession fee.

CPH plans to obtain funding of the investment programme in the form
of a combination of equity and shareholder loans from Copenhagen
Airports A/S of EUR 40-60 million. Plans are to obtain the remaining
funding through borrowings and revenues from the operation of the two
Bulgarian airports.

The agreement becomes effective when the claims against the Bulgarian
government from the two losing candidates, FraPort and Vinci, have
been finally decided by the Bulgarian Supreme Court.

Based on this, the takeover is expected to become effective in H2

Copenhagen Airports A/S intends to provide additional information on
the investment in the two airports when the takeover date is known.
Copenhagen Airports A/S
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