August 1, 2016
Fraport to sell partial stake in Thalita Trading
Fraport AG Frankfurt Airport Services Worldwide (Fraport AG) and its consortium partners at Pulkovo Airport reached an agreement to sell part of their shares in Thalita Trading (Thalita) to Qatar Investment Authority (QIA). Thalita is the parent company of Northern Capital Gateway consortium, which has the 30-year concession for operating Pulkovo Airport (LED) in St. Petersburg, Russia. Fraport will be reducing its stake in Thalita by 10.5% from 35.5% to 25%. Based on the current book value, Fraport expects profit from the transaction to range between 30 and 40 million euros – which in its total sum will impact the Group EBITDA, EBIT and EBT for the 2016 business year and will positively influence the Group result. The transaction closing is expected to be completed in the second half of 2016.