newstodate.aero
Nov 09, 2011 (newstodate): Singapore's Changi Airports International has teamed up with Russian partners Basic Element Group and LLC Sberbank Investments to set up a new JV for investment in and development of airports in Russia.
Basic Element, through its subsidiary Basel Aero, currently owns a cluster of airports in the Krasnodar region, including Krasnodar, Sochi, Gelendzhik and Anapa, and is on the move for further acquisitions.
The purpose of the joint enterprise is to further develop these airports in the Krasnodar region, to improve levels of service to meet international standards, increase capitalization of the assets, and also to expand the portfolio of airport assets.
Subject to due diligence and final negotiations between the parties and approval by the regulatory authorities, the creation of the joint venture is targeted to be completed in the second quarter of 2012.
Basic Element, through its subsidiary Basel Aero, currently owns a cluster of airports in the Krasnodar region, including Krasnodar, Sochi, Gelendzhik and Anapa, and is on the move for further acquisitions.
The purpose of the joint enterprise is to further develop these airports in the Krasnodar region, to improve levels of service to meet international standards, increase capitalization of the assets, and also to expand the portfolio of airport assets.
Subject to due diligence and final negotiations between the parties and approval by the regulatory authorities, the creation of the joint venture is targeted to be completed in the second quarter of 2012.