Qatar Investment Authority buys stake in St Petersburg airport operator

Dubai: Qatar Investment Authority has purchased a 24.99 per cent stake in the operator of St Petersburg airport from Germany’s Fraport and its consortium partners.

Fraport said in a statement on Sunday it expects a one-off gain of between €30 million and €40 million (Dh123.1 million and Dh164.1 million) from the sale.

Fraport will lower its stake in Thalita Trading, the parent company of Northern Capital Gateway who holds the airport concession, from 35.5 per cent to 25 per cent.