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AirMall, which operates stores and restaurants at BWI Thurgood Marshall Airport, has been sold to a German airport-management company.

New-York based private equity firm Prospect Capital Corp. sold Airmall and its parent company, AMU Holdings Inc., to Frankfurt-based Fraport AG for an unspecified amount. The deal took effect Friday, according to Fraport.

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Prospect Capital declined to comment, but in a statement said it had a 16.7 percent internal rate of return on its investment.

"We applaud the managers of AirMall, who continue to optimize passenger revenue in AirMall's airports," said Richard T. Carratu, a Managing Director of Prospect Capital Management, in a statement. "Prospect Capital is actively looking for new one-stop control and non-control investments with a yield-orientation across all industries."

AirMall operates 120,000 square-feet of retail space at BWI, according to its website, in addition to retailers spread across airports in Boston, Cleveland and Pittsburgh. AirMall's headquarters will remain in Pittsburgh.

Since Prospect Capital first acquired AirMall four years ago, yearly revenue has increased 17.3 percent to $49.1 million for the period ended June 30.

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