Sheremetyevo Airport may hold IPO after merging with OAO Terminal

MOSCOW, Jul 26 (PRIME) — Moscows Sheremetyevo International Airport may hold an initial public offering (IPO) after a merger with OAO Terminal, a managing company of the airports terminal D, according to an explanatory note to a ruling by Russian President Dmitry Medvedev on Sheremetyevo Airports consolidation seen by PRIME Tuesday.

Under the note, the IPO could be made on domestic or foreign stock exchanges.

Consulting company Ernst Young earlier estimated Sheremetyevo Airports value at 53.009 billion rubles and OAO Terminal at 10.083 billion rubles.

The Russian government currently holds a 100% stake in Sheremetyevo Airport. OAO Terminals shareholders are Aeroflot Russian Airlines, which owns a 55% plus one stake, state-controlled VTB Bank, which owns a 25% plus one stake, and state-owned Vnesheconombank (VEB), which holds a 20% minus one stake.

Following the merger, the government is to hold 83% in the merged company, Aeroflot is to own 9%, and VEB and VTB Bank are each to own 4%, Airport CEO Mikhail Vasilenko said in early May.

(27.7413 rubles U.S. $1)


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