VTB divests 25% of St. Petersburg airport

Wednesday, 05. April 2017 13:22

The second-biggest lender in Russia agreed to sell one quarter of Pulkovo airport in St. Petersburg to a consortium led by the Russian Direct Investment Fund, a state-run vehicle. The Financial Times reported on Wednesday that Yuri Soloviev, first deputy chairman of PAO VTB Bank, said the financial giant's "historical mission" as an owner is over. The government-owned lender will keep a 25.01% share, the article said.

The group of investors, which includes the country's largest private equity entity Baring Vostok, is otherwise said to consist mostly of foreign firms from the Middle East and Asia. The stake in the infrastructure complex is worth €250 million, according to the report. Soloviev stated the main business indicators grew two to three times since VTB entered into ownership of the airport operator in 2010 as part of a consortium.

German airport group​ Fraport AG, Kopelouzos Group from Greece and Koltseva Holdings from Cyprus have sold a 24.99% stake last year to Qatar Investment Authority for €239 million in 2016. Fraport still holds 25.01%. Earlier media reports indicated Russian investor Roman Trotsenko, who co-owns Novaport, is interested to acquire up to one tenth of Pulkovo. Novaport is 50% controlled by airport operator Aeon, which holds a share in the St. Petersburg airport.  

Related Links: 
Author:
Breaking the News / IT