Consortium of Basel, RDIF, Changi buys Vladivostok Airport

Interfax, 25.11.2016

MOSCOW. Nov 25 (Interfax) - A consortium of investors comprising Basic Element (Basel), the Russian Direct Investment Fund (RDIF) and Singapore's Changi Airports International (CAI) has acquired 100% of shares in JSC Terminal Vladivostok, the owner and operator of the Vladivostok Airport's terminal building, and 52.16% of JSC International Airport Vladivostok, which holds the airport license, from JSC International Airport Sheremetyevo, Basel said in a press release.

Basel, the RDIF and CAI each hold an equal interest of 33.3% in the airport, Basel said.

"The consortium will focus on expanding the airport's route network, increasing flight frequencies, and improving its service offerings through quality training to meet the demands of business and leisure travelers," Basel said.

Vladivostok International Airport currently has the capacity to handle 3.5 million passengers per year and to receive all aircraft types.

Basel chairman Oleg Deripaska was cited as saying in the press release that the company's successful experience working with CAI will be expanded to Vladivostok Airport.

"Together with our partners in the consortium, we will create a high-tech aviation facility that delivers safety and comfort to its passengers and adheres to the highest standards in airport operations and service which eventually will unlock the Far East's rich economic potential," Deripaska said.

"We have been working diligently and have finalized all the conditions for the prompt closing of the transaction and the development of the airport of Vladivostok as a key transportation hub in the region. The consortium has already started work to expand the airport's international route network and attract new airlines from China. We see opportunities for further effective work in unlocking the potential of one of the leading airports in the Far East of Russia," RDIF CEO Kirill Dmitriev was quoted as saying.

International Airport Sheremetyevo CEO Mikhail Vasilenko said he is "confident that the new owners of the airport will further stimulate its development, in the interest of the Far East and the Russian aviation industry."

A day earlier, the government commission for control over foreign investment approved the acquisition of 49% of shares in Vladivostok Airport by Singapore's Changi.