The concession of 14 Greek regional airports to German transport company Fraport for 1.23 billion euros has been finalized.
According to a decision published in the Government Gazette on Monday, the contract will be based on the conditions of the original tender that was granted to the Frankfurt-based company.
In November 2014, Fraport was declared preferred investor for the lease and management of 14 regional airports jointly with Greek energy giant Copelouzos. The deal was initially set to close last October but came to a halt with the change of government in January, when authorities said they wanted to re-examine the terms.
The privatization of the Greek regional airports was included in a memorandum of understanding (MOU) the government agreed with its international lenders in order to obtain a new three-year bailout program worth some 86 billion euros.
This is the first privatization implemented by the government since it took power in January.