Fraport Reduces Stake In St Petersburg Airport

Fraport is selling part of its stake in Thalita Trading, the operator of Pulkovo Airport in St Petersburg to Qatar Investment Authority.

Thalita is the parent company of Northern Capital Gateway, which has the 30-year concession for operating Pulkovo.

Fraport will reduce its stake in Thalita from 35.5 percent to 25 percent. Based on the current book value, Fraport said it expects the profit from the transaction to range between EUR€30 million and EUR€40 million (USD$33.5 million - USD$44.7 million).

Decreasing its shareholding will not affect Fraport’s role as “airport operator” in the consortium, the German company said in a statement.