State pushes on with Sheremetyevo privatization

Russia’s biggest international airport, Sheremetyevo, should expand its charter capital through an additional share issue according to a Russian Presidential Edict dated October 21, 2011.

­Russian President Dmitry Medvedev signed a decree to increase the charter capital of Moscow International Airport “Sheremetyevo” through an additional issue of shares due to a reorganization of the company which would keep the State’s stake at 50% plus one share.

The Russian State currently has a 100% stake in the airport. Sheremetyevo’s charter capital now consists of 1,031,502,320 common shares at a face value of one rouble each.

In July, the Ministry of Transport reported that Sheremetyevo can go for an IPO as soon as the OJSC “Terminal”, operating Terminal D, is attached to Sheremetievo. ErnstYoung valued Sheremetievo at 53 billion roubles and “The Terminal”- 10.7 billion roubles. After the consolidation the state share will shred to 83%.

General Director of VEB Capital, Yuri Kudimov, said “the decision on IPO may be announced in 2012.”
Sheremetyevo Airport provided services to 19.329 million passengers in 2010, which was an increase of over 31% from 2009.

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