Guernsey based property development vehicle, NR Investments Ltd, has agreed to acquire a 95% stake in Avia Invest, operator of Moldova's Chisinau International Airport.
Chisinau is the largest and sole international airport in Moldova.
Agreement was ratified between representatives of Avia Invest LLC (Avia Invest) and NR Investments’ sole beneficiary, Nat Rothschild, today.
The operations and management of Chisinau International Airport transferred to a concessionaire – Avia Invest – in November, 2013, under a private-public partnership model, whereupon a three-stage investment programme was determined over six years.
During that time Avia Invest has overseen a full modernisation of the airport, including a smart new passenger terminal, runway and apron modernisation, multi-level car park and other enhancements to airport infrastructure.
Avia Invest has also successfully marketed the airport, which sits at the crossroads of the passenger flows between Asia and Europe, attracting new full service and low-cost carriers.
Sixteen airlines currently include the airport in their networks, serving 38-strong destinations, including London, Dublin, Paris, Istanbul and Moscow.
Chisinau International Airport handled 2.8 million passengers in 2018, a 14.8% cumulative annual increase since 2010. In 2019 it is expected to surpass three million passengers.
Formed in 2007, NR Investments has an extensive track record and experience in Central European property and infrastructure investments.
Prior investments include Porto Montenegro, an award-winning super yacht marina; Trigranit, Central Europe’s largest real estate developer; the Korda Studios film complex in Budapest, Hungary, as well as multiple stand-alone developments across the region.
Further announcements will be made in September.