Yiqian circling Hahn airport

Shanghai Yiqian Trading Co is set to buy a major stake in Germany's Hahn airport, located more than 120 kilometers from Frankfurt, in a move that underscores the growing interest by Chinese companies in overseas infrastructure acquisitions.

Shanghai Yiqian plans to buy a 82.5 percent stake in Hahn airport from the current owner, the German state of Rhineland-Palatinate, for an undisclosed amount, Reuters reported.

The state will provide around 70 million euros ($79 million) in subsidies for the airport for the next 10 years, according to the interior ministry. But the subsidies still await approval from the European Commission.