VTB closes the acquisition transaction of stake in Gelendzhik Airport
On April 24, VTB Bank completed the acquisition of a stake in the Gelendzhik Airport. Equal owners of the stake are VTB Bank and Taimuraz Bolloev. The transaction complies with all the necessary Russian and international requirements.
On April 5, 2018, Russian Federal Antitrust Service (FAS) approved the partners’ request to execute the deal.
The partners acquired shares of LLC “Airport Gelendzhik” from LLC “VestUn”, which owned 100% of the shares. Previously, in February 2018, “Basel Aero” sold its Gelendzhik Airport shares to LLC “Airport Gelendzhik”.
VTB Bank expects passenger traffic growth in the region and plans to develop the airport infrastructure following the acquisition.