PRESS: Former CEO of mgmt co gets 1% in Russia’s Pulkovo Airport

MOSCOW, Nov 7 (PRIME) -- Sergei Emdin, the former CEO of Northern Capital Gateway, which manages St. Petersburg-based Pulkovo Airport, has purchased a 1.01% stake in the company, Kommersant business daily reported Monday citing sources.

Airport holding Novaport co-owner Roman Trotsenko earlier sought to buy this stake, but the deal was blocked by the board of Northern Capital Gateway’s creditors, the sources said adding that foreign credit organizations opposed the transaction. But Trotsenko told the daily he just failed to agree on the deal with the creditors on time and still intends to buy a stake in Pulkovo Airport.

In August, Germany’s Fraport announced the sale of a 10.5% stake in Thalita Trading Ltd, which owns Northern Capital Gateway, to Qatar Investment Authority (QIA), reducing its stake to 25%. In early September, Greece’s Copelouzos Group and Greece’s Koltseva Holdings Ltd announced selling their 7% and 7.5% stakes in the consortium, respectively.

Later, the government commission for foreign investments approved the purchase of these stakes by Qatar-controlled F3 Holding for 238 million euros. VTB Capital, which owns 57.5% in Northern Capital Gateway, was then expected to sell a 1.01% stake to Cyprus-based Harptree Holdings Ltd owned by Trotsenko, the daily said.

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