In December 2000 Fraport pre-qualified as a bidder for the acquisition of 49% of the issued share capital in the company that owns and operates the airport at Newcastle-upon-Tyne in the United Kingdom. DACO was retained by Fraport to provide them with advisory services in relation to their bid for Newcastle-upon-Tyne Airport.
In January 2001, appointed by DACO to assist them in the preparation of their bid for Newcastle Airport. In terms of the appointment, undertook to perform the following:
• Preparation of a financial model and valuation to be used as the basis for the price offer;
• Review of the corporate structure of Newcastle Airport and advise with regard to an appropriate investment structure and structure to achieve practical control
• Assisting in the preparation of the bid document

The bid was submitted and Fraport was considered to be a front runner, however, one week prior to the announcement of preferred bidder, Fraport decided to withdraw from the bidding process on the advice of its own financial advisors who were preparing Fraport for is Initial Pubic Offer (“IPO”) and were of the opinion that if Fraport were to be in the middle of acquisition negotiations at the date of the IPO it may impact on the success of the IPO.