Russia’s fourth largest airport Pulkovo sold a 25% stake to a consortium of investors pooled by Russian Direct Investment Fund (RDIF), including Mubadala Development Company, other leading Middle Eastern and Asian co-investors, and Baring Vostok Private Equity Fund, RDIF announced on April 20.
The stake in St Petersburg’s main airport was acquired from Thalita holding company controlled by state-owned VTB Bank, whose share in Thalita will be cut to 25.01%, the remaining shareholders being Qatar Investment Authority (25%) and Fraport airport operator (24.99%).
The deal still needs to be approved by Russia’s Federal Anti-Monopoly Service (FAS). The amount of the deal was not disclosed in the press release, but according to previous reports it is about $250mn.
The head of RDIF Kirill Dmitriev praised Pulkovo as “an excellent example of a successful public-private partnership (PPP) – one of the largest PPPs in Russia – that has created a high-quality and stable asset”.
Pulkovo Airport handled 13.3mn passengers in 2016 and has boosted turnover by about 60% since 2010.
Russian MTS Bank completed an initial public offering (IPO) at the upper end of the price range of RUB2,500 per share, floating 13.3% of the shares on Moscow Exchange, raising RUB11.5bn ($125mn) at a ... more
Russia’s second-largest bank, state-controlled VTB Bank, posted RUB122bn ($1.3bn) net profit in 1Q24, making a return on equity (ROE) of 22%. Despite declining by 17% year on year, net income and ... more
Russia in February for the first time overtook Turkmenistan on a monthly basis to become the largest pipeline supplier of natural gas to China, according to General Administration of Customs of China ... more