Qatar now owns almost a quarter of St. Petersburg’s Pulkovo Airport, after closing a deal with airport operator Fraport to buy part of its stake in the Russian business.
According to Reuters, consortium partner Copelouzos Group has also sold shares to the Qatar Investment Authority (QIA), raising the wealth fund’s overall stake in the airport to 24.9 percent.
Fraport – which will retain its role as airport operator after the deal – expects to make a profit of between €30-40 million from the sale.
Its stake has gone down from 35.5 percent to 25 percent.
UK airport shares
QIA’s purchase of a stake in Pulkovo increases the country’s interest in foreign airports, following a big investment in London Heathrow operator Heathrow Airport Holdings.
The deal, which received EU approval in 2013, saw Qatar take ownership of 20 percent of the company.
Heathrow Airport Holdings also operates the UK’s Glasgow, Aberdeen and Southampton airports.