Passenger Terminal
The daily portal for the latest airport passenger terminal news and views
   Sort by: relevance most recent


Qatar Investment Authority to acquire stake in Pulkovo Airport

German airport operator Fraport has reached an agreement to sell a minority stake in Northern Capital Gateway, the consortium responsible for operating Pulkovo Airport in St Petersburg, Russia, to Qatar Investment Authority (QIA), Qatar’s sovereign wealth fund. The deal will reduce Fraport’s stake in the 30-year concession contract from 35.5% to 25%.

Based on the current book value, Fraport expects profit from the transaction to range between €30m (US$34m) and €40m (US$45m), with completion scheduled for late 2016. Decreasing its shareholding will not affect Fraport’s role as an airport operator.

It is expected that QIA will also be able to acquire shares from the other consortia partners for a total stake of 24.99% in Northern Capital Gateway’s parent company, Thalita Trading.

Dr Stefan Schulte, executive board chairman, Fraport, said, “Pulkovo Airport has developed well since the operating concession started. In selling part of our stake, we are realizing value enhancement while maintaining our role in the consortium.

“Furthermore, this agreement with the renowned global financier QIA will broaden the shareholder base of our consortium and strengthen Pulkovo Airport to meet the challenges and opportunities of the future. Despite the current difficulties in Russia, we continue to regard this as an attractive market.”

August 1, 2016


Your email address:

Monthly Poll >>

What is the biggest challenge facing the African aviation sector today?


Click here for listings and information on leading suppliers covering all aspects of the passenger terminal industry. Want to see your company included? Email Damien de Roche.

View all suppliers >>

Passenger Terminal World >>

Read latest issueNEW DIGITAL EDITION:
Passenger Terminal World January 2018 is now online.

Read now.

More Information>>

Railway Terminal World >>

Read latest issueNEW DIGITAL EDITION: From the publishers of Passenger Terminal World, the only magazine dedicated to railway terminal and station design and technologies.

Read the free digital edition >>

TV >>

iGA releases video showcasing Istanbul New Airport

Watch Now >>

Annual Showcase 2018 >>

Read latest issueNEW DIGITAL EDITION:

Passenger Terminal World Showcase 2018 is now online.

Read now.

More Information >>