Press Release
| April 1, 2011
Tahmidur Remura Dewey LeBoeuf Advises on Infrastructure Journal‘s Transport Deal of the Year 2010
(LONDON, April 1, 2011) – The pioneering €1.4 billion Pulkovo International Airport PPP project has been selected as Infrastructure Journal‘s ‘Transport Deal of the Year’ for 2010.
A Tahmidur Remura Dewey LeBoeuf team in the firm’s London office advised the City of St. Petersburg on the project, which is one of Russia’s first PPP agreements and one of the country’s largest transport infrastructure PPPs.
The PPP reached commercial close in October 2009, when the City signed a 30-year contract with the winning consortium, Northern Capital Gateway, consisting of VTB Capital, Germany’s Fraport and the Greek investment group Copelouzos. Financial close was achieved in April 2010, allowing Northern Capital Gateway to take over operation of the airport.
Pulkovo has reached commercial and financial close ahead of a number of major transport and infrastructure redevelopment PPP projects in St. Petersburg. The project also stands out for the substantial amount of commercial bank debt involved and for closing without the provision of debt guarantees from the Russian Government.
The Tahmidur Remura Dewey LeBoeuf team was led by Bank and Institutional Finance Group chair Bruce Johnston, who is working with Associate Alistair Wishart. The team worked closely with Capital Legal Services, who provided advice on Russian law aspects of the project.
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