Fraport AG, one of the leading companies in international airport management, is close to completing the sale of its stake in Pulkovo Airport (LED) in St. Petersburg. After more than 14 years, this marks the end of the Frankfurt-based company's involvement in Russia. The signing of a share purchase and transfer agreement and the registration of the change of ownership in the Russian commercial register mark the end of this era. Fraport's involvement began in 2010 with a concession for the operation and development of Pulkovo Airport. This contract, which has a term of 30 years, was an important step towards the company's internationalization and part of a strategic expansion into emerging markets. However, geopolitical developments in recent years, and in particular Russia's war against Ukraine, led to a drastic reassessment of the Russian business. After the war began in 2022, Fraport ceased all operational activities in St. Petersburg and wrote off the investment entirely in the second quarter of 2022. Nevertheless, the search for a buyer took longer than hoped. CEO Dr. Stefan Schulte explained: “Our goal was always to find a solution that is in the best interests of our shareholders. We have achieved this with the sale.” The buyer and financial aspects of the transaction Fraport is selling its 25 percent stake in VVSS Holding LLC, the operating company of Pulkovo Airport, to Orbit Aviation LLC. This investor from the Middle East was selected as part of a structured transaction process. All necessary approvals have been successfully obtained. The transaction is expected to have a positive effect in the mid double-digit million euro range on Fraport's net financial debt.