SINGAPORE: Grouping will get 52.16% of OAO International Airport Vladivostok and will also fully acquire its terminal. The consortium, comprising the Russian Direct Investment Fund (RDIF), Changi Airports International (CAI) and Basic Element, is the winner of the tender to acquire shares in Vladivostok International Airport. Each of its members will hold an equal share.
A consortium comprising Changi Airports International (CAI), the Russian Direct Investment Fund (RDIF) and Basic Element was announced as the winner of the tender to acquire shares in Vladivostok International Airport.
“The consortium's bid was recognised as the best based on the strength of the technical, legal and financial components in the submission,” said the consortium members in a joint release. “The transaction will be closed after regulatory approvals are received.”
The RDIF is a US$10 billion (S$13.5 billion) fund established to make equity investments into Russian economy, while CAI is a wholly-owned subsidiary of the world’s leading airport operator Changi Airport Group. Basic Element is one of Russia’s diversified industrial groups. Each of them will hold an equal share in the consortium.
RDIF CEO Kirill Dmitriev said: “With an Open Skies policy in place, this airport has the potential to become a key Russian hub within the Asia Pacific transportation and logistics network.”
The airport, located in Russia’s Far East, is “strategically important for the development of the air transportation system in the region due to its geographical location – the crossing of two air routes between the Russian Far East and the Asia Pacific region”, said the release.
“We look forward to a strong partnership with Basic Element and RDIF to develop Vladivostok International Airport," said CAI CEO Lim Liang Song. "Vladivostok is the biggest economy in the Far East of Russia and has been identified to be developed as Russia’s strategic gateway to economies in Asia Pacific. We see long-term potential in our investment and will work with all parties to develop the airport into an important aviation hub in the region.