Fraport AG is finalizing its exit from Russia with the sale of its 25% stake in Pulkovo Airport (LED), St. Petersburg. The transaction, involving the transfer of shares to Orbit Aviation LLC, a Middle Eastern investor, is expected to be completed within days following final registration in Russia’s company register.
Fraport CEO Dr. Stefan Schulte commented, “This transaction allows us to fully exit Russia while securing the best outcome for our shareholders, despite the prolonged process.”
The sale will positively impact Fraport’s financial position, reducing net financial debt by a mid-double-digit million euro sum. However, the company had already written off its Russian operations in mid-2022 due to geopolitical challenges.
Fraport now shifts focus to its global growth strategies as it closes this chapter in its history.
This post was published on 6 December 2024 21:43
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