Excerpts from the transcript:
Igor Artemyev: Today the Government Commission on Monitoring Foreign Investment in the strategic sectors of the Russian economy, headed by Prime Minister Dmitry Medvedev, discussed several requests and decided to grant all of them.
In our opinion, the most important of the planned transactions is the purchase of a large stake in Vladivostok International Airport by Goldenhorn Gate, a company controlled by the Government of Singapore.
Changi Group, a leading management company in the global airport business, will buy into Vladivostok airport, which is a strategic facility for Russia.
The group will hold slightly less than 50 percent of the stock, or more precisely 49.99 percent, following a series of interconnected transactions. Changi will not be a controlling shareholder, but it will provide investment and management expertise. This is extremely important for the development of the Russian Far East.
We also looked into a request to sell Perm International Airport to a major airport operator, T.S. Trans Siberia, owned by Russian businessman Roman Trotsenko and three citizens of Kazakhstan.
We discussed several other transactions involving minor changes in the shareholder structure of a Moscow air hub, Sheremetyevo International Airport. We have approved these transactions, which will not seriously affect the ownership and management structure of Sheremetyevo.
