Fraport, the owner of Frankfurt airport, has signed a Letter of Intent (LOI) with chemical company Celanese/Ticona, under which the latter has agreed to close its chemical plant at Kelsterbach by the middle of 2011 to allow the building of a new runway. All aeronautical obstacles are to be removed by Celanese/Ticona and it is to transfer the entire property to Fraport by 2015.
German-listed real estate company Branicks Group has sold a retail property in Bremen city centre to municipal urban developer Brestadt for €37.2 mln.
