Putin Seizes Main Airport’s Administration From Overseas Shareholders

President Vladimir Putin has ordered the switch of all of the rights to managing St. Petersburg’s Pulkovo airport from overseas shareholders that embrace Germany’s Fraport AG and the Qatari wealth fund by shifting their stakes into a brand new Russian entity.

Below a decree printed late on Thursday, stakes within the Cyprus-registered concession that runs the airport of the second-largest Russian metropolis will likely be consolidated in a brand new home firm. Current traders, which additionally embrace a consortium with Abu Dhabi sovereign fund Mubadala Funding Co., will retain their stakes however received’t be capable to vote.