Fraport to sell partial stake in Thalita Trading

Fraport AG Frankfurt Airport Services Worldwide (Fraport AG) and its consortium partners at Pulkovo Airport have reached an agreement to sell part of their shares in Thalita Trading Ltd. to Qatar Investment Authority (QIA), the company said.

Thalita is the parent company of Northern Capital Gateway LLC consortium, which has the 30-year concession for operating Pulkovo Airport in St. Petersburg, Russia. Fraport will reduce its stake in Thalita by 10.5 percent from 35.5 percent to 25 percent.

Since the Northern Capital Gateway consortium started operations, passenger traffic at LED has risen from 8.4 million in 2010 to 13.5 million in 2015.

Fraport AG offers integrated airport management services with subsidiaries and investments on three continents. The Fraport Group generated sales of EUR2.6 billion and profit of EUR297 million in 2015. At its Frankfurt Airport (FRA) home base, Fraport welcomed more than 61 million passengers and handled about 2.1 million metric tons of cargo (airfreight and airmail) in 2015.