Since 2009, Pulkovo Airport has been managed by a consortium, one of the investors being the German company Fraport.
On November 30, the President of the aggressor country of the Russian Federation, Vladimir Putin, signed a decree on the seizure of enterprises controlled by foreign investors. In particular, we are talking about Pulkovo Airport in St. Petersburg. The German company Fraport has been denied the right to manage its shares in the airport, LIGA.net reports.
As you know, Pulkovo Airport has been managed by a consortium since 2009, one of the investors of which is Fraport.
Pulkovo’s management company is VSS LLC, in which four main investors have shares: 25.01% – Russian VTB structures; 25% – German Fraport; 25% – Sovereign fund of Qatar, 24.99% – a consortium of the Russian state fund RDIF, the Mubadala fund from the UAE and the American Baring Vostok.
The decree provides for the creation of a new company, LLC Holding VVSS, to which 100% of the shares of LLC VVSS will be transferred.
The composition of the founders in the new company will remain the same as before. At the same time, Russian shareholders will retain the right to dispose of their shares, but foreign shareholders will not.
Fraport AG Frankfurt Airport Services Worldwide, commonly known as Fraport, is a German transport company that operates Frankfurt Airport in Frankfurt am Main and has interests in operating several other airports around the world. In May 2022, the head of Fraport, Stefan Schulte, said that in accordance with the terms of the concession agreement, the holding does not have the opportunity to withdraw from shareholders until 2025. However, in September 2023, the head of VTB announced that Andrei Kostin that Fraport will still sell its stake.
Earlier, Putin signed a decree according to which part of the funds of foreign investors blocked in the Russian Federation can be “exchanged” for the frozen assets of Russians.
Let’s recall that foreign investors who left the Russian market and sold their businesses in the Russian Federation withdrew about $36 billion from the country over the year.
Source: korrespondent
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