Basic Element Group, which owns several airports in South Russia, has signed a memorandum of understanding (MOU) with Changi Airports International (CAI) and LLC Sberbank Investments to form a joint venture (JV) to invest in and develop airports in Russia. Basic Element will hold 50% plus one share, CAI will hold 30% and Sberbank will hold 20%, minus one share. The creation of the JV is targeted to be completed in the second quarter of 2012. It is subject to due diligence and final ...

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