Changi Airports Int'l reveals subsidiary's Russian stake

The subsidiary has a 30% stake in a Russian airport holding company.

Changi Airports International (CAI), a wholly-owned subsidiary of Changi Airport Group (CAG), announced it has a 30% equity stake in Transport AMD-2 Limited (TAMD2), a holding company in Russia that wholly owns Sochi International Airport, Krasnodar International Airport, and Anapa International Airport.

Following the announcement by the Singapore government of sanctions against Russia on 5 March, Russia has named Singapore on a list of countries and territories with transactions needing approval by a Russian government commission. This would include any transactions that CAI might become a party to in relation to its Russian investments.

CAG and its subsidiaries said they will comply with legal and regulatory obligations, including sanctions, applicable to them. The group is monitoring the situation closely and assessing the impact of these developments on its investments in Russia.

TAMD2 also holds an indirect stake in Vladivostok Airport.

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