DGAP-News: Sberbank: Basic Element, Sberbank and Changi Airports International form airport business partnership
(firmenpresse) - EquityStory.RS, LLC-News: Sberbank / Key word(s): Miscellaneous
Sberbank: Basic Element, Sberbank and Changi Airports International
form airport business partnership
22.06.2012 / 09:31
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Basic Element, Sberbank and Changi Airports International form
airport business partnership
St. Petersburg, June 22, 2012 - Basic Element Group, one of Russia's
leading diversified business groups, Sberbank of Russia, the largest bank
in Russia, and Changi Airports International, a wholly-owned subsidiary of
Changi Airport Group, one of the leading airport operators in the world, in
the framework of the St. Petersburg International Economic Forum, have
signed a joint venture agreement to invest in and develop airports in
Russia.
Basic Element will hold 50% plus one share, Changi Airports International
(CAI) will hold 30% and JSC Sberbank will hold 20% minus one share in the
joint venture.
Basic Element will contribute to the joint venture shares of the airports
in the Krasnodar region including airports of Sochi, Krasnodar, Anapa and
Gelendzhik. The total value of the assets exceeds US$500m.
The purpose of the joint enterprise is to further develop these airports in
the Krasnodar region, to improve levels of service for passengers and air
carriers, increase capitalization of the assets and to also expand the
portfolio of airport assets.
Oleg Deripaska, CEO of Basic Element, said 'We are pleased to co-operate
with Sberbank and Changi Airports International. Basic Element has already
done a lot to develop airports in the Krasnodar region in the run-up to the
2014 Olympic Winter Games. In co-operation with Changi and Sberbank, we
will achieve even more, turning Krasnodar region airports - the gateways to
the Sochi Olympics - into state-of the-art, highly efficient aviation
enterprises. This will ensure the safety and comfort of passengers, and a
quality of aircraft servicing in accordance with the highest international
standards.'
German Gref, President and Board Chairman of Sberbank, said, 'The
participation of Sberbank in this newly created joint venture is an
integral part of our investment strategy. We see great potential for
increased added value in the Krasnodar region airports, given the
development of tourism and the upcoming sport events which will make the
region the focus of international attention.'
Lim Liang Song, CEO of CAI said: 'This partnership is a strategic step for
Changi Airports International in the Russian market. We are glad to join
Basic Element and Sberbank in the further development of the airports of
the Krasnodar region. Changi brings extensive experience in managing and
consulting for airports in many countries. Our goal is to transfer best
practices in airport operations, management and development.'
About Basic Element
Basic Element (www.basel.com) is one of Russia's largest and most dynamic
diversified business groups. Basic Element's companies are controlled by or
are within the scope of Oleg Deripaska's business interests. Through its
affiliates, Basic Element owns significant stakes in and manages dozens of
companies operating in several market sectors, including energy,
manufacturing, financial services, construction, aviation, agriculture and
others. The Group consists of over 100 companies that between them employ
more than 250,000 people acrossRussia, the CIS, Africa, Australia, Asia,
Europe and Latin America. Many of Basic Element's companies play key roles
in their respective market segments in Russia and internationally,
including En+ Group, GAZ Group, Glavstroy, Basel Aero and others.
About Sberbank
Sberbank (www.sberbank.ru) is the largest bank of Russia that holds about
27% of the Russian banking assets and employs nearly 240,000 people. The
Central Bank of Russian Federation is the founder and major shareholder of
Sberbank, owning 57.6% of its issued outstanding shares. Other shares are
held by more than 245,000 individual and institutional investors. The Bank
has one of the largest networks in Russia: 17 territorial banks, about
19,000 branches as well as subsidiaries in Kazakhstan, Ukraine and Belarus,
a branch in India, representative offices in Germany and China. With the
acquisition of Volksbank International in 2012 Sberbank gained presence in
nine Central and Eastern European countries.
The bank holds the general banking license No.1481 issued by the Bank of
Russia.
About Changi Airports International
Changi Airports International (CAI) (www.cai.sg) is a wholly-owned
subsidiary of Changi Airport Group. Its principal businesses are airport
investments and consulting. It has been involved in the development of
various airports throughout the world. CAI's most recent projects include
a 26% stake in India's Bengal Aerotropolis Project Limited and an 8% stake
in Gemina S.p.A., the holding company of Aeroporti di Roma, the operator of
Rome's airport system.
For more information, please contact:
Basic Element
Irina Pashinkina
+7 (495) 729-53-83
IrinaVP(at)basel.ru
Sberbank of Russia
Alexander Baziyan
Tel. +7(495) 957 5721
media(at)sberbank.ru
Changi Airports International
Jonas Kor
+65 6595 6486 (DID)
+65 9658 5945 (mobile)
jonas.kor(at)changiairport.com
End of Corporate News
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Language: English
Company: Sberbank
19 Vavilova St.
117997 Moscow
Russia
Phone: +7-495-957-57-21
E-mail: media(at)sberbank.ru
Internet: www.sberbank.ru
ISIN: US80585Y3080, RU0009029540, RU0009029557
Listed: Foreign Exchange(s) MICEX, RTS
End of News EquityStory.RS, LLC News-Service
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