RDIF-led consortium of investors closes transaction on acquisition of 25% in Pulkovo Airport

TASS, 04.09.2017

A consortium of international investors comprising Russian Direct Investment Fund (RDIF), Russia-China Investment Fund (RCIF), Mubadala Development Company (UAE), Baring Vostok Private Equity Fund V and a number of related funds (Baring Vostok), as well as leading co-investors from the Middle East have announced the completion of a transaction to acquire a 25% stake in Thalita Trading Limited (Thalita), the holding company of the Northern Capital Gateway, which manages Pulkovo Airport, RDIF said in a press release on Monday.

"We are confident that the arrival of new shareholders will contribute to the dynamic development of Pulkovo, one of the largest airports in Russia," RDIF CEO Kirill Dmitriev was quoted as saying.

Earlier Dmitriev said that the consortium would totally invest more than $200 mln in the airport, with $100 mln provided by Arab investors.

Head of the Federal Antimonopoly Service (FAS) Igor Artemyev said earlier that the deal on 25% stake sale in Pulkovo Airport to a consortium of investors is worth 240 mln euro.

VTB Capital signed an agreement on sale of a 25% stake in the management company of Pulkovo Airport to a consortium of investors in April. As a result of the transaction the stake of VTB Capital decreased to 25.01%. Germany’s Fraport and the Qatar Investment Authority retained stakes of 25% and 24.99% respectively. Fraport also retained the status of the airport’s operator.

Pulkovo is the main airport of St. Petersburg and the fourth-largest in Russia. The throughput capacity of the new integrated passenger terminal is about 17 mln passengers per year. The passenger traffic was 13.3 mln as of end-2016, a 1.7% decrease compared with 2015.