German Fraport will check Putin’s decision to transfer control of Pulkovo
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The German company Fraport will assess the consequences decree Russian President Vladimir Putin on the transfer of 100% in the management company of Pulkovo Airport from the Cypriot Thalita Trading Limited to the new legal entity VVSS Holding. The company’s press service reported this to RIA Novosti.
Fraport representatives noted that they need to “verify this information” and also analyze how this may affect their share in the future. Fraport owns 25% of the capital of BBCC Holding.
According to the decree, all 100% of the Cypriot company’s shares in the authorized capital of the Northern Capital Gateway (LLC, which has been managing Pulkovo since 2010) are transferred to the ownership of VVSS Holding. Its authorized capital will be 169 billion rubles. It is noted that the government will not be the founder of the company. Its Russian shareholders will retain the right to dispose of their shares, but foreign ones will not.
Holding VSS LLC will include 13 companies, including Fraport. The measures were taken “in connection with the threat to the national interests and economic security of the Russian Federation that arose as a result of the violation of obligations by some foreign legal entities.”
Read more about the situation in the Kommersant FM article. “Pulkovo ”landed” in its homeland”.
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