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31 January 2025
Fraport AG has completed the sale of its stake in Pulkovo Airport (LED) in St. Petersburg. The transaction was completed with the registration in the pertinent commercial register on 9 December 2024. With this transaction, Fraport is ending its involvement in Russia.
The concession for the operation of Pulkovo Airport began on 29 April 2010, with a contractual term of 30 years. Fraport sold its entire 25 percent stake in VVSS Holding LLC to Orbit Aviation LLC, an investor based in the Middle East. Fraport selected the buyer within the scope of a structured transaction process. All approval processes and procedures have been successfully completed.
Fraport suspended its activities at the airport in St. Petersburg immediately after the start of Russia’s war against Ukraine. With the anticipated completion of this transaction, the company will end its 14-year commitment in Russia and will focus on its global growth strategies.
The law firm ALRUD (Moscow, Russia) advised on Russian law.
Hengeler Mueller-Team für Fraport AG
Corporate/M&A: Georg A. Frowein (lead, partner), Lucina Berger (partner, both Frankfurt), Guglielmo Ziani (Frankfurt), Rebecca Klein (Düsseldorf, both senior associate),
Regulatory/Sanctions: Dirk Uwer (partner, Düsseldorf), Thomas Kosmider (associate, Düsseldorf).
