Fraport AG Frankfurt Airport Services Worldwide and its
consortium partners at Pulkovo Airport have announced an agreement to sell some of
their shares in Thalita Trading Ltd. (Thalita) to Qatar Investment Authority
(QIA).
Thalita is the parent company of Northern Capital Gateway
LLC consortium, the operator of Pulkovo Airport in St. Petersburg, Russia. With
the sale, Fraport’s stake in the consortium will decrease by 10.5 percent, from
35.5 percent to 25 percent. The profit for Fraport should be between $33.5
million and $44.65 million. The decrease in shares does not affect Fraport’s
role as airport operator in the consortium.
“Pulkovo Airport has developed well since the operating
concession started,” Fraport AG Executive Board Chairman Dr. Stefan Schulte
said. “In selling part of our stake, we are realizing value enhancement while
maintaining our role in the consortium.”
Schulte also noted that the agreement will help grow the
company’s shareholder base and strengthen operations at the Pulkovo Airport.
“Furthermore, this agreement with the renowned global
financier Qatar Investment Authority will broaden the shareholder base of our
consortium and strengthen Pulkovo Airport to meet the challenges and
opportunities of the future,” he said. “Despite the current difficulties in
Russia, we continue to regard this as an attractive market.”
