CAI and partners acquire Vladivostok International Airport

A consortium made up of Russian Direct Investment Fund (RDIF), Changi Airports International (CAI) and Russia's Basic Element is acquiring Vladivostok International Airport from Sheremetyevo International Airport.

RDIF, CAI and Basic Element, each hold equal stakes of 33.3 per cent.

Subject to regulatory and corporate approvals, the consortium will own 100 per cent of JSC Terminal Vladivostok - which owns and operates the airport terminal building - and 52.16 per cent of JSC International Airport Vladivostok, which holds the airport license.

Lim Liang Song, CEO of CAI, said: "Vladivostok is the largest economy in the Russian Far East, and is strategically placed to be the gateway between Russia and the Asia-Pacific. Together with our partners, RDIF and Basic Element, we will develop Vladivostok International Airport as one of the best air hubs in the region with strong air connectivity and superior service."

Vladivostok International Airport currently has the capacity to handle 3.5 million passenger annually and to receive all aircraft types.