Airports Varna and Burgas – 35-year concession granted to Fraport (2006)
In September 2006, Bulgaria's government and Fraport signed a deal awarding a 35-year concession to the German company to run and modernize the country's two Black Sea airports Varna and Burgas.
As the leading partner in the consortium with a 60% share, Fraport will take over the complete operations and master planning for both airports, as well as the development of modern passenger terminals. The consortium is planning to invest for the 35-year period of concession over EUR 403mn in new terminal facilities, expanding apron areas, new airport vehicles.
Bulbrokers Consulting participated as an advisor responsible for the organization of the overall financial due diligence process, preparation of transaction documentation and support of the Concessionaire during the negotiations with the government institutions involved in the procedure.